Benin Republic, Niger enjoy smuggled fuel as Nigerians keep vigil at petrol stations

While many Nigerians remain vigilant at gas stations, motorists in neighboring Benin Republic and Niger are enjoying petroleum smuggled from Nigeria, according to a Saturday investigation

the two nations observed that the illegal petrol was being sold by black marketers at lower prices than those at filling stations.

According to the findings, drivers frequently buy from black marketers since their prices are lower than those at filling stations.

Saturday said that the increased value of cefas (CFA) to naira made Nigerian smuggled fuel appealing to inhabitants of both countries

Nigeria is experiencing its fifth significant fuel crisis since President Bola Tinubu took office on May 29, 2023, following the withdrawal of fuel subsidies.

The elimination caused a dramatic jump in petrol costs, resulting in panic buying, severe fuel scarcity, and an increase in the cost of life. Petrol pump prices rose from roughly N200 to more than N500 per litre.

A second fuel scarcity occurred in September 2023 as a result of another surge in petroleum pump prices, causing queues in major cities, notably Lagos.

Justin Asoba, a biker, described the situation as a “surplus,” noting that the quantity of fuel prompted people to engage in black market trading.

Wasiu Olawale, a Nigerian businessman living in Benin, stated, “There is enough fuel, and everyone knows that much of it comes from Nigeria, but it is cheaper here.”

One black market merchant, Kabiru Usman, stated that he received regular shipments of fuel and offered to share information about the company for a charge

One black market merchant, Kabiru Usman, stated that he received regular shipments of fuel and offered to share information about the company for a charge.

Yusuf Bala, another motorcycle rider, indicated that a considerable amount of the fuel sold on the illicit market is smuggled.

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