Petrol prices have almost doubled in Benin after it was announced that fuel subsidies would be scrapped in next-door Nigeria.
Nigeria is one of Africa’s oil giants and subsidised petroleum products are routinely smuggled into Benin, where they’re mostly sold by the roadside and serve a large part of the population
Popularly called kpayo – which means “unoriginal” in Goun, a native language – it is cheaper than fuelling up at stations, local media reported.
Nigeria’s new President Bola Tinubu had in his inauguration speech said fuel subsidy was “gone”, an announcement that triggered panic-buying and a surge in fuel prices.
It was later clarified that it would be phased out in the coming weeks.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policies of Homebase Television Ltd.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policies of Homebase Television Ltd.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
