Nigerians Rush to Buy as Petrol Sells for N600 per Litre: “It’s My Turn to Benefit”

• The Nigeria Customs Service has sold 14,000 litres of seized petrol to residents in Ibadan, Oyo State, at N600 per litre
• The seized fuel, intercepted along the Igbeti–Ogbomoso axis, had a duty-paid value of about N14 million, according to the NCS
• The Service urged Nigerians to support its efforts to combat fuel smuggling and diversion by sharing credible intelligence

Legit.ng journalist Dave Ibemere has over a decade of experience covering business, energy, and the Nigerian economy.

The Nigeria Customs Service (NCS) has conducted a public auction of 14,000 litres of seized petrol in Ibadan, Oyo State at N600 per litre.

Tribune reports that the exercise was supervised by the National Coordinator of Operation Whirlwind, Assistant Comptroller General (ACG) Kola Oladeji and took place at Afoo Multi Ventures Limited’s filling station in the Muslim area of Ibadan.

According to Oladeji, the petrol was confiscated after operatives intercepted a tanker with registration number DGB 722 XR along the Igbeti–Ogbomoso axis, following credible intelligence.

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He estimated the duty-paid value of the fuel at about N14 million.

Oladeji added that the operation was part of efforts to protect the economy and promote accountability in the downstream petroleum sector.

He said:

“This decision is not just about seizing fuel or its quantity; it is about protecting our economy, ensuring transparency in the downstream sector, and defending ordinary Nigerians from fuel scarcity, hoarding, and price manipulation.”

He added that, under the leadership of Comptroller General of Customs Bashir Adewale Adeniyi, Operation Whirlwind will continue targeting networks engaged in illegal fuel diversion and smuggling.

Protecting the Nigerian economy

The Customs official also commended the Office of the National Security Adviser (NSA), Mallam Nuhu Ribadu, for its strategic intelligence support and urged Nigerians to cooperate by sharing useful information on the activities of smugglers.

Residents who bought fuel at the auction expressed happiness but said the savings would be kept for their personal benefit.

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He stated:

“When fuel prices soared, we didn’t raise transport fares. Now that I bought fuel at a lower price, it’s my turn to benefit.”

Another motorist, Sumaila Ariyo, a tricycle operator, praised the initiative and thanked President Bola Ahmed Tinubu and the Nigeria Customs Service for easing the burden on the public.

He said

“Before now, we used to buy fuel at N870 to N875. This N600 price is a big help.”

The petrol station manager, Sunkanmi, confirmed that fuel was initially selling for N900 per litre before Customs officers arrived and reduced the price to N600 for the auction.

NNPC announces new petrol price

Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) retail outlets have adjusted the pump price of Premium Motor Spirit (PMS), also known as petrol across the country.

In Lagos, NNPC retail outlets were dispensing fuel to motorists at N922 while in Abuja, the price has risen to N955 from N905.

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A state-by-state breakdown shows that the highest price is in Kwara, where petrol now sells for N975 per litre, followed by Gombe and Sokoto at N965.

Source: Legit.ng