The partial closure of Nigeria’s borders prevented the smuggling of 10.78 million litres of the Premium Motor Spirit, popularly known as petrol, between August and September 2019.
Figures obtained from the Petroleum Products Pricing Regulatory Agency on Saturday in Abuja showed that the truck-out of petrol within the last one month declined by over 10 million litres.
The agency said records of PMS supply from various depots nationwide between August 5 and 11, 2019 stood at about 61 million litres, representing the average daily volume trucked out before the border closure.
It said between August 12 and 18, 2019, there was a drop of about 35 per cent in the volume of trucked-out petrol when compared to the previous week.
“However, from August 19 to 25, 2019, which fell within the period in which the borders were partially closed, the agency recorded an average daily truck-out figure of about 57 million litres, which fell below the daily average figure for the week of August 5-11, 2019,” the PPPRA stated.
Similarly, from August 26 to September 1, 2019, 371.82 million litres of petrol were trucked out, averaging a daily figure of 53 million litres. This represents a decline of about four million litres when compared to the previous week.
“Available data from the agency indicates that the downward trend continued from September 2-8. The daily average truck-out figure for that week was 50.22million litres, indicating a further reduction of 2.9 million litres.”
An analysis of the figures showed that between August 5 and September 8, the volume of petrol being trucked out of depots reduced by 10.78 million litres.
The high truck-out volume recorded before the partial closure of the nation’s borders could be attributed to the seepage of petroleum products across the border, coupled with the widening fuel price arbitrage with neighbouring West African countries,” the PPPRA stated.
The agency said while the downward trend in the consumption pattern was a welcome development, efforts were being made to not only curb the smuggling of products but to ensure that petroleum products were available across the country.