Why Nigeria's Fuel is Sold at Cheaper Rates in 2 Neighbouring Countries in Black Market
- President Bola Tinubu's announcement of the removal of the fuel subsidy on his inaugural day has led to persistent fuel scarcity in the country
- Nigerians are currently facing another fuel scarcity in the country, with the cost of the commodity at an all-time high
- However, the narrative was different in Niger and Benin Republic, two neighbouring countries getting steady fuel supply from Nigerian smugglers at a cheaper rate
Nigerians are facing the dilemma of fuel scarcity in the country since President Bola Tinubu announced the removal of the fuel subsidy on May 29, 2023, during his inaugural speech at Eagles Square.
On the contrary, the people of Benin Republic and Niger, two neighbouring West African countries, are getting a steady fuel supply from Nigerian smugglers, who sell at a cheaper rate compared to the official prices at the filling stations in the countries.
Source: Getty Images
Why motorists patronise black market in Niger, Benin
The cheap prices of the black market make motorists patronise Nigerian smugglers in those countries, while the higher value of the CFA (West African currency) to the naira encourages Nigerian smugglers to continue smuggling Nigeria's fuel to neighbouring countries.
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The Punch reported that despite Nigeria's fuel scarcity, the Benin Republic has a stable fuel supply from smugglers and authorized dealers.
How much is fuel in Benin Republic?
Petrol is priced at 700CFA per litre in Benin Republic, approximately N1,850, which is cheaper than in Nigeria.
Filling stations in Benin Republic's cities, such as Cotonou and Calavi, have no long queues, and the fuel supply system is functioning well.
In Illela, a border town between Nigeria and Niger Republic, a litre of petrol costs around N1,000, while in Konni, Niger Republic, it costs between N1,250 and N1,300.
Is there fuel scarcity in Niger Republic?
Niger Republic does not experience fuel scarcity, and the cost of fuel is similar in both countries.
A commercial motorcycle rider in Illela, Mallam Abubakar Bello, said there is no difference in fuel prices between Illela and Sokoto, and most people don't patronize filling stations.
Another motorist in Konni, Niger Republic, Mahmoud Sanusi, said there is not much difference in fuel costs between the two countries.
He added that the removal of subsidies by the Nigerian government has affected people in Niger Republic more than Nigerians.
Anti-NNPC protesters fight dirty over money
Legit.ng earlier reported that an Abuja hotel was engulfed in drama as protesters were caught fighting over money allegedly from the sponsors of the protests.
The Civil Society Network on Economic and Social Advancement was reportedly billed with staging a protest against NNPC Limited over the country's fuel crisis.
However, members of the group were said to have neglected the protest, which resulted in fighting over the money-sharing formula.
Proofreading by Nkem Ikeke, journalist and copy editor at Legit.ng.
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