Petrol prices have almost doubled in Benin after it was announced that fuel subsidies would be scrapped in next-door Nigeria.
Nigeria is one of Africa's oil giants and subsidised petroleum products are routinely smuggled into Benin, where they're mostly sold by the roadside and serve a large part of the population
Popularly called kpayo - which means "unoriginal" in Goun, a native language - it is cheaper than fuelling up at stations, local media reported.
Nigeria's new President Bola Tinubu had in his inauguration speech said fuel subsidy was "gone", an announcement that triggered panic-buying and a surge in fuel prices.
It was later clarified that it would be phased out in the coming weeks.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Elon Musk to spend election night with Donald Trump
5 mins -
UCL: Real Madrid lose to AC Milan in second straight home defeat
16 mins -
Economy is growing below potential – IEA
32 mins -
UCL: Gyokeres hat-trick as Amorim’s Sporting thrash Man City
36 mins -
Accusations fly in Spain over who is to blame for flood disaster
38 mins -
Equatorial Guinea VP warns against office sex after viral videos
44 mins -
Netflix Europe offices raided in tax fraud probe
50 mins -
UCL: Diaz nets hattrick as Liverpool beat Leverkusen
52 mins -
Israel PM Netanyahu fires defence minister Gallant
1 hour -
From Arizona to Pennsylvania, Americans embrace calm before election’s storm
1 hour -
Sam Jonah calls for urgent action against ‘pervasive’ corruption in Ghana
2 hours -
‘Pawn’ movie premiere ends with great reviews
2 hours -
Gospel musician Afia Ayiwah out with ‘Jesus Reigns’
2 hours -
We’ve made significant strides in judiciary – Akufo-Addo
2 hours -
West African School on Air Quality and Pollution Prevention to enable air quality forecasting in Ghana
2 hours