The depot was discovered at No. 3 SilverBird Road, Ilasun Lekki, on Tuesday, April 2, 2024, and five suspects were arrested.

According to a statement released on Tuesday, the leader of the syndicate, Ahmed Ariyo, alongside four other persons were arrested in a private apartment where they carried out their illegal activities.

The Commander NNS Beecroft, Commodore Rafiu Oladejo, was quoted in the statement, as saying that the total products discovered are estimated to be about N89 million based on the current price of AGO N1,350.

The statement read, “The Nigerian Navy Ship Neecroft has discovered an illegal fuel depot and arrested five suspects at No 3 SilverBird Road, Ilasun Lekki, on Tuesday, April 2, 2024. The leader of the syndicate, Ahmed Ariyo, alongside four other persons was arrested in a private apartment where they carried out their illegal activities.

“The discovery of the illegal fuel depot was sequel to credible intelligence received by NNS Beecroft on suspicious activities taking place at Elegushi beach. This necessitated the deployment of NNS Beecroft Quick Response Team to the location, which resulted in the discovery and arrest of the suspects.

“The illegal fuel depot contains eight storage tanks of 50,000 litres capacity each, laden with about 57,000 litres of AGO; a tanker laden with about 7,000 litres; a bus with 30 jerry cans laden with about 1,500 litres. The total product discovered is about 65,000 litres of AGO which is estimated to be about N89 million based on the current price of AGO N1,350.

“While estimating the total capacity of the storage facility found in the apartment, the eight storage tanks, if filled to capacity with AGO, will be about 400,000 litres which is approximately N500 million.”

The commodore also disclosed that the suspects possibly got the products through “pipeline vandalism, illegal vendors at sea, as well as other illegal means along the coastline .

“Commodore Oladejo reiterated that NNS BEECROFT will not relent in its efforts to pursue oil thieves and other criminal elements as directed by the Chief of Naval Staff, Vice Admiral Emmanuel Ikechukwu, ”