Report: Petrol prices soar in Benin Republic after subsidy removal in Nigeria | TheCable fuelsubsidy
June 4, 2023 8:21 PMPetrol prices have almost doubled across fuel stations in Benin Republic after it was announced that subsidy would be removed in Nigeria,Petrol from Nigeria is regularly smuggled into neighboring countries including Cameroon, Ghana, Benin Republic and as far as Sudan.
The broadcasting company quoted sources to have said the product is being sold for 700 CFA or 800 CFA in Benin Republic — up from a previous price of 450 CFA. Smuggled petrol — popularly called kpayo – which means “unoriginal” in Goun, a native language – is cheaper than fuelling up at stations, according to local media reports.“On fuel subsidy, unfortunately, the budget before I assumed office is that no provision is there for fuel subsidy. So, fuel subsidy is gone,” the president had said.
Following Tinubu’s comments, huge queues resurfaced at filling stations in some parts of Nigeria — a situation the Independent Petroleum Marketers Association of Nigeria
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