Prices of petroleum products have nearly doubled in Cameroon, Benin Republic, and Niger following the removal of fuel subsidy in Nigeria, findings by Daily Trust Saturday revealed.
Cheap petrol from Nigeria was regularly smuggled to as far as Sudan, a North African country, making it difficult for Nigerian authorities to save enough to provide services to the people.
The subsidy removal in Nigeria has also affected social and economic life in the neighbouring countries, with sources saying black market activities have significantly reduced.
The removal of fuel subsidy was announced on Monday, May 29, by President Bola Tinubu during his inaugural speech.
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Tinubu on Friday, June 9, justified the action, stating Nigeria cannot continue acting as ‘Father Christmas’ to neighboring countries.
He said this at an interactive session with the Royal Fathers under the aegis of the National Council of Traditional Rulers of Nigeria (NCTRN) at the Aso Villa.
