Never miss important updatesBefore Nigeria ended its subsidies, petrol exchanged hands on Niger's black market for between 250-275 CFA francs (42-46 US cents) a litre, or $1.61-1.76 per US gallon. Ilia Mahamadou, another black market vendor and father of four, was also worried. Nigeria's abolition of petrol subsidies has squeezed the black market in neighbouring Niger. At some markets the price for a 100-kilogramme (220-pound) sack of maize has gone up 4,000 CFA francs to 28,000. At N'Konni, a town close to Nigeria, "activity has slumped" because of the end of the black market, said local journalist Daouda Kaka.

Source: Daily Nation July 28, 2023 07:25 UTC