• Privacy Policy
  • Terms
  • About us
  • Contact Us
Sunday, May 22, 2022
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy

Nigeria installs trackers to curb smuggling of petrol

The Matters Press by The Matters Press
June 27, 2021
Reading Time: 3 mins read
0
Stable petrol supply excites Buhari

Petrol tankers

Petrol tankers

Minister of State for Petroleum Resources, Mr Timipre Sylva, has said that Federal Government installed a tracking system to monitor every truck loading petroleum product from any of its depots as part of efforts to curb smuggling and arrest culprits.

RELATED POSTS

AfDB approves $1.5bn to avert food crisis on the continent

Nigeria, Cote d’Ivoire to deepen bilateral relations

$25bn global investment needed annually to access clean cooking by 2030

He said in Abuja on Sunday a lot had been achieved in the industry but that the activities of smugglers had continued to overshadow the success especially as it concerned fuel subsidy and the quantity of petroleum products consumed in the country.

“This is one big question that we try to answer ourselves because when we look at the number of load-outs from our depots every day, we know that we don’t have that level of consumption of petroleum products in Nigeria,” he said.

According to Sylva, time has come for the government to track products that go out from its depots to ensure they deliver straight to designated filling stations in the country.

ALSO READ  Minister amplifies Buhari’s achievements in first year of second tenure

He said the era of smuggling products across the country’s borders was over as it negatively contributed to the high number of litres of petroleum products said to be consumed in the country on a daily basis.

“We have been able to put a tracking system to track the trucks that load from the depots, so that we are sure that when they load products from the depots, they take it straight to the filling stations.

”When you say that Nigerians are consuming 60 million litres, and you look at the number of cars on the Nigerian roads, you will know that those 60 million litres cannot be possibly consumed in Nigeria.

“But we have a situation where our price for products here are cheaper than the price across the border; sometimes the price across the border is double or even more than double our own price here.

ALSO READ  Buhari mulls education bond

“So, it’s an opportunity for profit, and some people will want to take our product and sell it across the border to make extra money.

“That is what has been happening and it’s really distorting our own system here because if you say you are going to be subsidising the product, the subsidy is meant to be subsidising for Nigerians not those outside Nigeria.

“But the way it is now, we seem to be subsidising the whole of Africa, and how can we sustain such a move; that is why the subsidy amount is going up every day,” Sylva said.

He also said that security agents, the Economic and Financial Crimes Commission (EFCC) and the Nigerian Customs Service (NCS) would swing into action to ensure the smugglers were apprehended and brought to justice.

“We know that our consumption data is inflated, not by us but because of the leakages which we are trying to control.

ALSO READ  Rumpus over Nigeria’s removal of subsidies in petroleum products

“If you have a structure as it is today, and the incentive the smugglers get is too high, it makes them not to stop unless the government is ruthless, and that is why we are involving security agencies.

“This month may be they will smuggle to Niger Republic and next month somebody will discover a route to Chad and another person is smuggling to Cameroon and Benin Republic, while some could go as far as Togo or Ghana.

“And this is why our perceived consumption figure is going up every day and if we continue to do that and keep our petrol price low, it will be difficult for us to progress.

“In some communities, we have a situation where someone’s farmland is in Cameroon and their home is in Nigeria, so how do you stop that person from not crossing the border,” Sylva added.

Tags: Petrol
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria, WFP worry over food situation
Agriculture

AfDB approves $1.5bn to avert food crisis on the continent

May 21, 2022
Nigerian firms to handle $4b gas project
Foreign

Nigeria, Cote d’Ivoire to deepen bilateral relations

May 21, 2022
Osinbajo urges promotion of blue economy project
News

$25bn global investment needed annually to access clean cooking by 2030

May 21, 2022
CAC, Pakistani investors on economic diversification
Economy

CAC’s reforms impact on nation’s economy

May 20, 2022
Nigeria emerges Africa biggest energy sector
Economy

Osinbajo advocates African plan on energy transition

May 13, 2022
Nigeria gets petroleum law to edge out 50 years archaic laws
News

Buhari’s war against money laundering, financial crimes peaks

May 13, 2022
Next Post
July petrol pump price ranges between N140.80 and N143.80

Marketers kick against restriction of petrol import to refinery owners as contained in PIB

Buhari flags off $2.5bn Gas Pipeline Project, assures of prompt completion

Buhari commits to African Peer Review mechanism

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Kuta Offers Many Hotspots for People with Alternative Lifestyles

November 15, 2021
Corruption caused Nigeria’s poor resource management

Bonny Island wins a jetty

November 14, 2019

Instagram Is Testing Photo Albums, Because Nothing Is Sacred Anymore

November 13, 2021

Popular Stories

  • 79 candidates for presidential election

    INEC wants to make you rich, bid for new jobs

    0 shares
    Share 0 Tweet 0
  • Universities approved to operate distance learning centres

    0 shares
    Share 0 Tweet 0
  • IMF’s reasons for Nigeria’s economic recovery

    0 shares
    Share 0 Tweet 0
  • Missing fighter jet found dead

    0 shares
    Share 0 Tweet 0
  • PawaPlus launches app to make access to electricity easy

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • AfDB approves $1.5bn to avert food crisis on the continent
  • Nigeria, Cote d’Ivoire to deepen bilateral relations
  • $25bn global investment needed annually to access clean cooking by 2030

Categories

  • Agriculture
  • Business
  • Culture
  • Economy
  • Economy
  • Entertainment
  • Features
  • Finance, Money
  • Foreign
  • Health
  • Lifestyle
  • Multimedia
  • News
  • Oil, Gas
  • Opinion
  • Photo
  • Politics
  • Politics/Social
  • Religion
  • Security
  • Special News
  • Sports
  • Tech
  • Thematterspress
  • Trade, Industry, Technology
  • Travel
  • Uncategorized
  • Video
  • World

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?