The Nigerian National Petroleum Corporation said the recent closure of Nigeria’s borders has significantly led to a reduction in the smuggling of Premium Motor Spirit, popularly known as petrol, out of the country .
Mele Kyari, Group managing director of NNPC disclosed this in a tweet.
Earlier in the first half of the year, there were reports that smugglers took the commodity to as far as Ghana, Burkina Faso, Mali and Cote d’Ivoire. This was largely due to the price disparity of petrol between Nigeria and the West African country.
The corporation explained that while the pump price of petrol in Nigeria was N145 per litre, the cost in many other West African markets was about N350 per litre.
The oil firm said it was working hard to close up that incentive.