-2.1 C
New York City
Friday, September 25, 2020
Home News Nigeria 30% Petrol Smuggled Out Of Nigeria – Report

30% Petrol Smuggled Out Of Nigeria – Report

Higher petroleum sales prices in neighboring countries has been an incentive for unscrupulous Nigerians to smuggle to such nations about 30% of petrol meant for Nigeria, Major Oil Marketers Association of Nigeria(MOMAN) has revealed.

According to a recent publication signed by the MOMAN Chairman, Adetunji Oyebanji, the oil marketers stated that neighboring countries cannot afford to subsidize fuel, because they have no oil.

“Therefore,” he said, “it is not sustainable for Nigeria to continue to subsidize fuel for other countries. We must understand that our oil resources are running out. If this is not enough cause for concern, everyday, we see alternative forms of energy being developed and becoming more viable.

“This is inevitably will mean that one day in future, we will either run out of oil or no one will want to buy it, because of cheaper alternatives. The question then becomes how we could afford subsidies but were currently flirting with bankruptcy.”

©Copyright MOTORING WORLD INTERNATIONAL.
All rights reserved. Materials, photographs, illustrations and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior written permission from Motoring World International

Contact: editor@motoringworldng.com

4 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Autonomous Shuttles: Report Reveals Future of Last-mile Mobility

the autonomous mobility industry is tackling part of the last-mile problem that many commuters encounter when using public transportation by replacing large, diesel buses...

Lagos Gas truck Explosion caused by Angry Driver?

Explosion which, on Thursday, rocked Cele Bus Stop, along Grailand, Ajuwon, Lagos state of Nigeria, damaging several vehicles and causing injuries for many, was...

Massilia Motors Assures Of After-Sales Support for Pajero

After a successful 39 years run, and more than 3.3 million global sales, the production of the legendary Mitsubishi Pajero will be stopped by...

Court Opens Criminal Proceedings against Former Volkswagen CEO

A German court has opened proceedings against former Volkswagen CEO Martin Winterkorn, examining whether he is guilty of market manipulation as part of the...
RSS
Follow by Email
YouTube
YouTube
Pinterest
LinkedIn
Instagram
WeChat
error: Content is protected !!