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Subsidy: Cameroon stopped importing PMS, depends on smuggled products from Nigeria — NNPC Limited

NNPC Limited has said some West African and Central African countries have stopped importing petroleum products and depend solely on smuggled products from Nigeria.

Umar Ajia, the Chief Financial Officer of NNPC Limited, revealed this on Monday while speaking before an ad hoc Committee of the House of Representatives investigating fuel subsidy.

The CFO said most countries surrounding Nigeria now fully depend on the subsidy from Nigeria to sustain.

He disclosed that the smuggling of petroleum products is so easy because of the porous borders and anyone with N5 million can make the cross.

“If you have five million naira, you can cross the borders with trucks laden with PMS, that is the bitter truth, we have porous borders; yes we have Customs but I do not know.

“PMS crosses everywhere, to Cameroon through the North East, Nigerian PMS gets to Mali; our neighbouring countries hardly import PMS; infact, some of them do not have the LC cover to back up imports.

“Cameroon refinery got burnt sometime last year or so, since that time, they have not imported PSM but they are still using PMS; if you go to Niger, you find that PMS is sold in bottles.”

He further stated that Ogun, Oyo and Niger State are the largest consumers of petrols.

Ajia insisted that the Nigerian government does not know the exact figure of daily consumption, rather relies on the number of trucks out.

Following the revelation, the chairman of the committee, Ibrahim Almustapha, said the actions of the officials charged with managing the sector may sink the country.

Almustapha, therefore, ruled that all subsidiaries of the NNPC limited must appear before the committee on Thursday.

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