The Nigerian Navy has disclosed that its Ship Beecroft intercepted a fibre boat containing 90 drums of 250 litres each of Petrol Motor Spirit, PMS, valued at about N15 million at the current pump price.

The Navy explained that the arrest was conducted by Operation Water Guard NNS BEECROFT’s patrol team and occurred in the early hours of November 11.

Speaking via a statement on Monday, the spokesperson of the Base, Sub-Lieutenant H. A Collins said that the large fibre boat was illegally transporting drums of PMS, approximated at 22,500 litres, when it was intercepted.

Quoting its Commander, Commodore Kolawole Oguntuga, the Navy said, “The team acted on credible intelligence and discovered the vessel abandoned near the Ijegun community.”

According to the commander, the oil thieves abandoned the loot and fled when they sighted the NNS patrol team.

He noted, “The prevention of illicit acquisition of such volatile products does not only curb economic sabotage but also prevents the outbreak of fire, which may have dire consequences on life and property.

“This proactive operation underscores the Nigerian Navy’s unweaving commitment under the leadership of the Chief of Naval Staff, Vice Admiral EI Ogalla, to safeguarding the nation’s petroleum resources for the benefit of Nigerians.”