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Cross-border fuel smuggling dropped after subsidy removal – NNPCL boss
By Francesca Hangeior.
The removal of fuel subsidies in Nigeria has significantly reduced cross-border smuggling of Premium Motor Spirit.
This is according to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr. Mele Kyari.
Kyari explained that the subsidy created a price disparity between Nigeria and neighbouring countries, making smuggling highly profitable.
Before the subsidy removal, Kyrari stressed the price difference was substantial, incentivising smugglers to transport fuel across borders.
However, “the removal of the subsidy has effectively calibrated fuel prices, eliminating the profitability of smuggling”, he said.
Kyari noted that the cost disparity between legitimate and illegal transportation of PMS is now significant, with legal transportation being much less profitable.
In addition to reducing smuggling, the subsidy removal has also brought about price parity and equalisation with the cross-border prices of PMS.
Kyari said, “The removal of fuel subsidy in Nigeria has been a game-changer in the fight against cross-border smuggling.
“For decades, the subsidy created a lucrative opportunity for smugglers to profit from the price difference between Nigeria and neighbouring countries.
“This is a positive development for Nigeria’s energy sector, as it can help to ensure that consumers are paying fair prices for fuel.”
Famous American actor, Denzel Washington has revealed he has Nigerian ancestry.
The ‘Gladiator II’ actor disclosed that his heritage test shows that he is 90 per cent Irish and 10 per cent Nigerian.
Washington spoke in a recent interview with British-Nigerian media personality, Ada Enechi.
“I am 10 per cent Nigerian and 90 per cent Irish,” he stated.
Meanwhile, Denzel Washington has hinted at retirement.
The 69-year-old thespian disclosed during a press tour of his latest movie ‘Gladiator II’ in Australia that ‘Black Panther 3’ is one of his last films before retirement.
He said he would be retiring after shooting ‘Black Panther 3’, ‘Othello 2’ and ‘King Lear.’
About 20 suspected criminals arrested for various crimes across Osun State, including three suspected highway armed robbers, were on Friday paraded by the state police command.
Presenting the suspects to journalists, the spokesperson for the police, Yemisi Opalola, said the armed robbery suspects, Olajide Kareem (28), Mike Emmanuel (33), and Godwin Emmanuel (23) were arrested along Osu/Ilesa road.
Opalola said the suspects, during their operations robbed many people of their jewelries, phones cash, and other valuables.
She added that during one of the robbery incidents, a bus driver was shot in the leg, while a female passenger was raped by one of the suspects.
Also paraded was Emmanuel Anthony, accused of using military uniforms to rob passengers along Ekiti road, where he forced a victim from Esa Oke, to transfer a sum of N3m to his account.
Anthony was also accused of robbing other people of their mobile phones valued at N1.25m.
Seven other suspects arrested for conspiracy, armed robbery and receipt of stolen vehicles, were also paraded.
Four northern states of Gombe, Bauchi, Benue and Plateau have been thrown into darkness, due to a fault on the 330kV double circuit transmission lines of Ugwuji-Makurdi-Jos.
The states are among the franchise area of Jos Electricity Distribution Company.
According to the Head of Corporate Communications, JEDC, Friday Elijah, the tripping of the lines occurred in the afternoon on Friday, resulting in the loss of power supply on all the 33KV feeders.”
He disclosed that the Transmission Company of Nigeria engineers were working to rectify the fault.
“We hope to restore normal power supply to our esteemed customers as soon as the fault is rectified and power supply is restored back to normalcy,” said Elijah.
Denzel Washington reveals he is part Nigerian
Police parade 20 suspected armed robbers, others in Osun
Four northern states in darkness as transmission lines trip
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