Nigerian Customs Announces Sale of N400/Litre Petrol

• The Nigeria Customs Service authorised the immediate auction of over 39,000 litres of confiscated gasoline and eight vehicles valued at more than N63 million
• The fuel was seized by Operation Whirlwind operatives in smuggling hotspots across the Lagos-Ogun axis, preventing illegal export to Benin Republic
• Officials praised the operation’s success, highlighting significant progress within one year and thanking supporting government agencies

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Nigeria Customs Service (NCS) Comptroller General Adewale Adeniyi has authorised the immediate auction of confiscated petrol at a discounted price of N10,000 per 25-litre jerrycan. This means a litre of the petrol will be sold at N400/litre.

The product was seized over the weekend by the agency’s task force, Operation Whirlwind, which confiscated petrol valued at over N63 million in the Lagos-Ogun axis, Daily Sun reported.

The National Coordinator of Operation Whirlwind, Assistant Comptroller General (ACG) Hussein Ejibunu, praised the seizure as a significant victory in the battle against economic sabotage during a press briefing at the Customs Training College in Ikeja, Lagos, over the weekend.

“There is no safe haven for smugglers or economic saboteurs. We will continue to disrupt their activities and reduce them to the barest minimum,” he declared.

Investigators found that the products were headed for illegal export across the border to Benin Republic after operatives seized 1,577 jerrycans of 25 litres each, totalling 39,425 litres of PMS, along with eight transportation vehicles in smuggling hotspots such as Ilaro, Imeko, Badagry, Owode, and Ajilete, according to ACG Ejibunu.

The vehicles are worth N24,000,000, and the duty-paid value of the fuel is N39,425,000, making a total of N63,425,000. Ejibunu noted the advancements made within a year of the operation and commended the officers’ commitment.

“It may interest you to know that in just one year, significant milestones have been achieved across all zones. This is due to the commitment, discipline, and resilience of the operatives,” he said.

Additionally, he thanked the Office of the Attorney General, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and the Office of the National Security Adviser (ONSA) for their support.

ACG Charles Orbih, the Zone "A" zonal coordinator, praised Operation Whirlwind’s continued success.

“This landmark achievement reflects the determination and unwavering commitment of our officers to safeguarding Nigeria’s economic and national security,” he said.

Smugglers blamed for Nigeria's FX troubles

The Federal Operations Unit, Zone A, of the Nigeria Customs Service in Lagos expressed alarm over the ongoing smuggling of petrol, rice and other goods, highlighting it as a significant contributor to the foreign exchange crisis and a threat to the nation’s economy.

The Unit criticised the damaging impact of rice smuggling and other illegal imports, stressing that such activities rob the federal government of critical tax revenue.

Kola Oladeji, the Customs Area Comptroller for Zone A, shared these concerns while presenting seized foreign parboiled rice to journalists at the command.

He said:

“Smugglers don’t pay tax, they don’t pay anything and all these prohibited items are not meant for this country.”

Oladeji explained that the persistent daily exchange of naira for CFA contributes significantly to the naira's instability in the market.

Although Oladeji did not specify the quantity or value of the confiscated goods, he called for an end to the smuggling of petrol and other prohibited items.

He added that the operation was the result of prolonged surveillance and careful coordination.

Recall that at the directive of President Bola Tinubu, the NCS began the distribution of seized food items to Nigerians to ameliorate the hardship in the country.

Speaking with Legit.ng, Ifeanyi Ubah agrees with the Customs that smuggling prohibited items like fuel and rice significantly harms Nigeria's economy and weakens the naira.

He said:

"It undermines local industries by promoting unfair competition, reducing demand for domestically-produced goods, and stifling job creation. Moreover, illegal cross-border trade depletes foreign reserves as smugglers often convert naira into foreign currencies, further straining the exchange rate. Fuel smuggling worsens subsidy leakages, increasing government expenditure."

He added that addressing these challenges requires stricter border controls, public awareness, and policies that encourage local production and discourage smuggling.

NNPC, Dangote Refinery’s partners reduce petrol cost

Legit.ng reported that Petrol price battles between depot owners, Dangote Petroleum Refinery, and the Nigerian National Petroleum Company Limited (NNPC) have led to price reductions across filling stations.

The Dangote Refinery lowered its fuel prices for partners from an average of N890–N920 per litre to N875–N905, varying by location.

According to a statement shared through a pricing table, the new retail prices apply at the pumps of Dangote’s distribution partners across Nigeria, including MRS, Ardova Plc (AP), Heyden, Optima Energy, TechnoOil, and Hyde.

The article was updated by the head of the business desk, Victor Enengedi, with additional information and comments from an expert.

Source: Legit.ng