By Adedapo Adesanya

The Nigeria Customs Service (NCS) has intercepted 245,370 litres of Premium Motor Spirit (PMS), commonly known as petrol, valued at N238.1 million across states in the country.

This information was disclosed by the Comptroller-General of Customs, Mr Bashir Adeniyi, who further said the seizures were as part of its ongoing anti-smuggling operation tagged Operation Whirlwind within the last two months.

The customs head provided a breakdown of major interceptions under Operation Whirlwind which include Adamawa State (January 30, 2025): 199,495 litres of petrol seized, valued at N199.5 million, Kwara State (February 17, 2025): 45,875 litres of petrol seized, worth N38.6 million,

Lagos and Ogun (January 11 – February 23, 2025): 28,300 litres of petrol intercepted along key smuggling routes

He attributed the smuggling of petrol to significant price disparities across Nigeria’s borders, which encourage smugglers to divert fuel to neighbouring countries for higher profits.

“Our economic intelligence reveals that substantial price disparities across regional borders remain the fundamental catalyst for this illicit trade, fostering a profoundly lucrative black market that systematically undermines Nigeria’s economic sovereignty and national interests,” he explained.

Mr Adeniyi described the fuel smuggling trade as a systematic attempt to undermine Nigeria’s economic foundations.

“While the government has implemented comprehensive market reforms and supply chain enhancements to stabilize the domestic petroleum sector, these criminal elements remain determined to exploit regional economic disparities for illicit profit,” he said.

He added that the criminal networks involved in the illicit trade are constantly refining their smuggling techniques to evade law enforcement.

“While the government has implemented comprehensive market reforms and supply chain enhancements to stabilize the domestic petroleum sector, criminal networks remain determined to exploit regional economic disparities for illicit profit.

“These unscrupulous elements have shown remarkable adaptability, constantly refining their methods to circumvent our enforcement measures.

“What we are witnessing is not just routine customs violations but a systematic attempt to undermine Nigeria’s economic foundations through the diversion of strategic national resources,” he said.

He commended the leader of Operations Whirlwind, Assistant Comptroller-General Hussein Ejibuno, and his team for their efforts in protecting Nigeria’s economy and national security.

As part of the recent operations, Customs officers seized three vehicles used for fuel smuggling and arrested two suspects, who are currently facing trial.

By Adedapo Adesanya

The Petroleum Retailers Outlet Owners Association of Nigeria (PETROAN) has commended the Nigerian National Petroleum Company (NNPC) Limited and the Dangote Refinery for their efforts in reducing the pump price of Premium Motor Spirit (PMS).

They also lauded the implementation of a refund initiative to cushion the impact on marketers.

This is as the NNPC Retail Limited on Monday announced a reduction in its pump price of PMS from N920 to N860 per litre.

Dangote Refinery had earlier brought down the gantry price of PMS from N890 per litre to N825 per litre, a move that PETROAN described as a much-needed relief for Nigerians facing economic hardship.

The private refiner then said it would refund N65 per litre to customers who purchased PMS at the previous higher rate at its partners’ stations.

The initiative will cover over 200,000 metric tonnes of PMS, with Dangote absorbing a N16 billion loss to implement the refunds

Reacting to the development, PETROAN’s National President, Mr Billy Gillis Harry, praised NNPC Retail Ltd for taking proactive steps to support the Nigerian people.

Mr Harry in a statement signed by the National Public Relations Officer of PETROAN, Mr Joseph Obele, noted that the refund initiative will also positively impact retail outlet owners, who will benefit from reduced prices and refunds

“This price reduction is a welcome development at a time when many Nigerians are struggling with inflation and high living costs. It will ease transportation expenses and bring down the cost of essential goods,” the PETROAN National President said in the statement.

“We commend Dangote Refinery for this bold step. Many marketers bought PMS at the old price before the reduction, and this refund will help cushion their losses. This shows a commitment to fair pricing and consumer protection,” he added.

PETROAN further urged Nigerians to remain optimistic, stressing that government reforms in the petroleum sector are starting to yield tangible benefits.

By Modupe Gbadeyanka

Over 50 women will have their businesses enjoy more visibility online this month via a popular online marketplace, Jiji.

This has been made possible by the collaboration between Jiji and the Association of Small Business Owners of Nigeria (ASBON).

The digital entrepreneurship is under the Biz Queens run the world on Jiji campaign designed to accelerate economic empowerment for female entrepreneurs.

This campaign aligns with the theme for International Women’s Day 2025 Accelerate action and is set to support women in business by providing them with digital tools to scale their ventures.

The female entrepreneurs will have access to essential business tools like a brand new laptops, smartphones, or free business boost on Jiji to help them establish a strong online presence.

The month-long initiative (from March 1 – 31, 2025) encourages female entrepreneurs across the country to grow their businesses online by simply registering on Jiji, posting at least one ad, and filling in their business details.

“This month of International Women’s Day, we celebrate the incredible role of digital transformation in empowering women entrepreneurs.

“Initiatives like Jiji Nigeria are pivotal in helping women-led SMEs thrive in today’s digital economy.

“At ASBON, we are proud to support these women in their journey to success, ensuring they have the tools and resources to lead and innovate,” the president of ASBON, Femi Egbesola, said.

Also, the Regional Head of PR and Marketing at Jiji, Majolie Obaje, said, “At Jiji, we’re firm believers that when women thrive in business, the economy thrives.

“This initiative isn’t just about celebrating female entrepreneurs, but giving these business queens the confidence and tools to succeed in the digital marketplace.

“When they list their products and services on our platform, they gain visibility, credibility, and direct access to millions of potential clients.”

With Nigeria’s SMEs contributing nearly 48 per cent to the nation’s GDP, and women led businesses raking in around 33 per cent to the total number of SMEs in Nigeria, according to reports by PWC, the challenge remains that many female entrepreneurs lack access to digital opportunities that can amplify their reach and profitability.

According to a 2024 research by Genderdigital marketplacepedia, 60 per cent of informal businesses in Nigeria are owned and run by women, which limit their potential for expansion.

The initiative aims to shift this narrative by equipping women with online business tools that would enable them to build sustainable and profitable businesses in digital commerce.

To be part of it, intending participants must register for free on Jiji, post at least one ad showcasing their product or service, and complete their biz details for better visibility on the Jiji platform. Businesses who gain access to these tools would be announced every Friday in March and April 1, 2025 on Jiji’s platforms.