Marketers and industry experts are getting worried over rise in consumption of petrol in the country, linking it to diversion and smuggling of products
Recently, the Nigerian National Petroleum Corporation said smuggling across the borders increased the consumption of premium motor spirit, better known as petrol, to 102 million litres per day.
Kyari said the corporation was collaborating with the Economic and Financial Crimes Commission, EFCC, Department of State Services , Nigeria Police Force , Nigeria Customs Service , Nigeria Security and Civil Defence Corps, NSCDC, and other relevant security agencies to tackle the smuggling problem.
But experts argue that between Chad, Niger, Cameroon, Togo and Benin Republic, the daily petrol consumption in these countries are not more than 8.6million litres. The NNPC lamented the escalating incidence of petrol smuggling across Nigeria’s borders, which it places at a whopping 42 million litres per day.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Petrol consumption jumps by 340 million litres in one month - Punch NewspapersThe most widely read newspaper in Nigeria
Read more »
COVID-19: Nigeria records 11 new deaths, 444 infections as third wave spreadsWith the recent increase in daily cases, active COVID-19 cases in Nigeria have jumped to 7,151.
Read more »
Cornerstone grossed N17.53 billion premium in 2020 | The Guardian Nigeria News - Nigeria and World NewsDespite the challenging business environment, Cornerstone Insurance Plc recorded a gross premium written of N17.53 billion in 2020.
Read more »
Iran hits record for new Covid cases, deaths at 3-month highIran's daily Covid caseload crossed 37,000 mark for the first time on Monday, the health ministry said, as the Islamic republic also recorded its highest daily fatalities in three months.
Read more »
Kuda Bank raises $55 million at $500 million valuationFounded in 2019 by Babs Ogundeyi and Musty Mustapha, Kuda is a microfinance bank licensed by the Central bank of Nigeria.
Read more »
Petrol subsidy may gulp N2tn this year – Rainoil bossNigeria may end up spending N2tn on petrol subsidy this year if the current situation persists, the Group Managing Director, Rainoil Limited, Dr Gabriel Ogbechie, has said.
Read more »