Nigeria’s decision to eliminate fuel subsidies has had a significant impact, resulting in the collapse of a thriving black market in West African nations. In a report on Monday, American news platform, Reuters, noted that black market fuel vendors and commercial drivers in Cameroon, Benin and Togo, who heavily relied on smuggled petrol from Nigeria, have witnessed their businesses crumble since the subsidy removal. As fuel supplies dwindle, long queues have formed at official petrol stations, where prices are now competitive. The trade in black market fuel holds such significance in the local economy that authorities either turn a blind eye or are complicit. At the Hilacondji border crossing between Togo and Benin, some black market fuel stalls have closed, leaving vendors waiting with empty containers for potential deliveries.

Source: Punch June 27, 2023 22:08 UTC