Petrol prices have almost doubled across fuel stations in
Benin Republic after it was announced that subsidy would be removed in Nigeria,
the BBC is reporting.
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 Monday, in his inaugural speech, President Bola Tinubu
said the petrol subsidy regime was over.
“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 (IPMAN) blamed on panic buying.
On Friday, the Nigeria Labour Congress (NLC) issued a
five-day ultimatum to the federal government to revert to the old price of
petrol or face a nationwide protest
Presently, a federal government delegation is in a meeting
with representatives of organised labour at the presidential villa, Abuja, over
the removal of subsidy on petrol.
The NLC didn’t make the meeting.
The meeting comes five days after a first meeting with the
new government on the same issue ended in a deadlock.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com