A comparative analysis of the newly reviewed petrol prices in Nigeria after subsidy is removed with those of its West African neighbours shows the business of smuggling the country’s petrol is no longer viable as cost differentials are no longer attractive enough. Data sourced from Global Petrol Prices, a website that tracks retail prices of refined petroleum products, show that prices across Africa are no longer as wide, which creates arbitrage incentivising the smuggling of petrol from Nigerian borders. The price difference between the average price in Nigeria and Benin…
Read MoreSubsidy Removal Spoils West Africa’s Stolen Petrol Market
