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Nairaland Forum / Nairaland / General / Politics / As Nigeria Scraps Fuel Subsidy, A Vibrant Black Market Collapses (541 Views)
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As Nigeria Scraps Fuel Subsidy, A Vibrant Black Market Collapses by OmoOgunOriginal(f): 11:55am On Jun 26, 2023 |
Smuggled Nigerian fuel widely traded in nearby countries Prices rocket after Nigerian government scraps subsidy Informal vendors suffer, official fuel stations prosper GAROUA, Cameroon, June 26 (Reuters) - Things have been topsy turvy lately on the roadsides of West African nations where cheap contraband petrol from Nigeria has abruptly doubled in price, upending an informal sector that is central to the region's economic activity. https://www.reuters.com/markets/commodities/nigeria-scraps-fuel-subsidy-vibrant-black-market-collapses-2023-06-26/ 1 Share
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Re: As Nigeria Scraps Fuel Subsidy, A Vibrant Black Market Collapses by Puss360(f): 12:24pm On Jun 26, 2023 |
Better.... At least make we know where our problem dey come from.... Nearby countries don't have filling station, na only us get am plenty... Coz those countries trade a lot on black market petrol from Nigeria... Now no more subsidy, make every country import and sell on international level.... 3 Likes |
Re: As Nigeria Scraps Fuel Subsidy, A Vibrant Black Market Collapses by helinues: 12:26pm On Jun 26, 2023 |
Our neighboring countries are feeling the subsidy removal more than Nigerians self 1 Like |
Re: As Nigeria Scraps Fuel Subsidy, A Vibrant Black Market Collapses by nairalanda1(m): 12:35pm On Jun 26, 2023 |
So, this is where a large chunk of our subsidy money was going to. Anyway, that charade is over. |
Re: As Nigeria Scraps Fuel Subsidy, A Vibrant Black Market Collapses by nairalanda1(m): 12:40pm On Jun 26, 2023 |
Basically, independent marketers and Dangote put our consumption at 40 million NNPC put it at 66 million Customs put it at 99 million. That's how the subsidy scam works. Stealing by inflated figures. Much of it comes from smuggling and outright lying. Anyway, that charade is over. |
Re: As Nigeria Scraps Fuel Subsidy, A Vibrant Black Market Collapses by Sablexxxtoons: 12:52pm On Jun 26, 2023 |
While we wait for the situation to improve, some have gone into fishing or other small businesses," said Ayi Hilla, who had been making a living from selling contraband fuel for 10 years but was now focusing on running a small roadside bar. Imagine, we go dey hustle dem godey sell our fuel dey cash out..make dem sef go hustle 1 Like |
Re: As Nigeria Scraps Fuel Subsidy, A Vibrant Black Market Collapses by RAND250: 1:38pm On Jun 26, 2023 |
Re: As Nigeria Scraps Fuel Subsidy, A Vibrant Black Market Collapses by yarimo(m): 1:46pm On Jun 26, 2023 |
Fuel subsidy is gone gone anyone that wants subsidy is a criminal |
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