Operatives of the Nigerian Navy ship (NNS) Beecroft have uncovered a 400,000-litre bunker, where diesel is stored, at a residential apartment in the Lekki area of Lagos.
Rafiu Oladejo, commander of the NNS Beecroft, addressed journalists on the discovery during a press briefing on Tuesday.
Oladejo said NNS Beecroft received credible intelligence about suspicious activities taking place at Elegushi beach in Lagos.
In a statement released by Hussaini Ibrahim, spokesperson of NNS Beecroft, Oladejo was quoted to have said that five suspects were arrested at 3 Silverbird road, Ilasan, Lekki, for managing an illegal fuel depot in a residential area.
The leader of the syndicate was identified as Ahmed Ariyo.
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The commander said the illegal fuel depot contains 8 storage tanks of 50,000 litres capacity each, laden with about 57,000 litres of diesel; a tanker laden with about 7,000 litres of diesel; and a bus of 30 jerrycans with about 1,500 litres.
Oladejo disclosed that the total product discovered in the apartment is about 65,000 litres of diesel, estimated to cost over N89 million.
He said the eight storage tanks, if filled to capacity, will contain 400,000 litres of diesel, worth about N500 million.
The commander said preliminary investigation revealed that the suspects got the products through pipeline vandalism and illegal vendors along the coastline.
The suspects and products were handed over to the Nigeria Security and Civil Defence Corps (NSCDC) for further investigation and possible prosecution.