Okechukwu Nnodim and ’Femi Asu
The Nigerian National Petroleum Corporation on Sunday announced that it was spending N774m daily (about N23.99bn monthly) as subsidy on the 50 million litres of Premium Motor Spirit consumed across the country.
Although it described the amount as under-recovery, the oil firm stated that the amount was due to the proliferation of filling stations in communities with international land and coastal borders across the country.
The Group Managing Director, NNPC, Maikanti Baru, said the multiplication of filling stations had energised unprecedented cross-border smuggling of petrol to neighbouring countries, making it difficult to sanitise the fuel supply and distribution matrix in Nigeria.
Baru disclosed this when he led a management team of the corporation on a visit to the Comptroller-General, Nigeria Customs Service, Col. Hameed Ali (retd.), according…
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