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PETROLEUM SMUGGLING RESPONSIBLE FOR NAIRA INSTABILITY, ECONOMIC WOES – NSA RIBADU
The National Security Adviser (NSA), Nuhu Ribadu, has raised the alarm over the increasing smuggling of petroleum products out of Nigeria, warning that the instability in the foreign exchange market would persist unless addressed.
Speaking in Abuja on Monday at a stakeholder engagement for Operation Whirlwind, organised by the Nigeria Customs Service, Ribadu highlighted the severity of the issue.
Ribadu commented, “We have been suffering due to smuggling, and if we want to address our economic problems, smuggling has to stop. It is difficult because it is like cancer and eats up everything.
“It destroys us and even our security forces because of the very few individuals making profit from it and half of them are not even Nigerians.
“I don’t think there is any country that suffers from smuggling like Nigeria and we have to address it now because with the trouble we are going through, we can’t stabilise Naira and if we can’t stabilise Naira, then we are in trouble.”
He assured that his office would support the Customs Service and other security agencies in their efforts to combat the issue.
“From May till date, the Customs has made about 27 seizures and detected smuggling networks in Badagry and Adamawa. Other activities have also improved border security and we have succeeded in ensuring fuel smuggling is reduced.
“Our collaboration with NMDPRA has also been critical and germane. So far, we have seized 500,000 litres of PMS with 7 trucks amounting to 475m. The seizures were done in Kebbi, Sokoto, Lagos and Adamawa. We have opened other axes in Kwara, Niger, Katsina and Kano.
“Because of this work, most of our officers are on death threats including myself and they sent us messages to desist from fighting, but we won’t relent because we ought to fight and ensure survival of Nigeria,” he stated.
Comptroller General of Customs, Bashir Adewale Adeniyi, emphasised the need for continued effort in the fight against smuggling.
“We won’t spare any effort in combating the menace and this explains why we launched Operations Whirlwind and we have made some progress. However, we need funding because we spend about N230 million monthly to sustain the operation and because it is not in our budget it is not sustainable and Customs may not be able to drive it alone.
“As such, we will need funding collaboration and we intend to sustain it till the end of the year,” he added.
