The Sokoto/Zamfara Customs Area Command has auctioned 25,162 liters of seized premium motor spirit (PMS) to the general public at a token of N180 per liter on Wednesday in Sokoto
This follows the seizure of 55,164 liters of PMS with a duty-paid value of N38,669,964.00 by operatives of Operation Whirlwind and the Sokoto/Zamfara Area Command patrol teams.
The Area Controller of the Customs Kamal Muhammed, while addressing the media, said that the seizure was made possible due to the intensified clampdown on smugglers of petroleum products.
Kamal noted that despite the subsidy removal, Nigeria still has one of the cheapest PMS prices in West Africa, making smuggling an attractive venture for criminals.
“PMS is sold at an average of N701.99k per litre in the country while in Cameroon it is sold at N2,061.55k, Mali is N2,128.20k and N1,672.05k in the Republic of Benin”.
He said that the Comptroller General of Customs, Bashir Adewale Adeniyi, approved the auction of the seized PMS to the public.
The Comptroller added that, Customs Service has vowed to continue protecting Nigeria’s economic interests with dedication, justice, and integrity.
According to him,the auction aims to reduce artificial scarcity and burden on the country’s foreign exchange used to import the product.