Aftermath of fuel subsidy removal cross-border fuel smuggling …C0NTINUE READING HERE >>>
Aftermath of removal of fuel subsidies in Nigeria cross-border smuggling of Premium Motor Spirit has drastically reduced.
This is according to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr. Mele Kyari.
Kyari explained that the subsidy created a price disparity between Nigeria and neighbouring countries, making smuggling highly profitable.
Before the subsidy removal, Kyrari stressed the price difference was substantial, incentivising smugglers to transport fuel across borders.
However, “the removal of the subsidy has effectively…
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