
Nigeria loses ₦1,085 trillion daily to fuel smuggling
Daily, an estimated seven million litres of Premium Motor Spirit (PMS), better known as petrol, valued at N1, 085t is smuggled from Nigeria to neighbouring West African countries.
With daily consumption of about 52 million litres of petrol per day according to the Department of Petroleum Resources (DPR), The Guardian understands that only about 45 million litres are eventually circulated within the country while approximately seven million litres are smuggled to countries where the product is sold for higher turnover.
Neighbouring Chad sells the cheapest petrol at the equivalent of N322, and industry sources told The Guardian that using N300 …














