by The removal of fuel subsidies in Nigeria has greatly reduced the smuggling of petrol to neighboring countries, according to Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL).
In an interview with Channels TV, Kyari explained that before the subsidy was removed, there was a big price difference between Nigeria and its neighboring countries. This made it profitable for smugglers to move fuel across borders.
However, with the subsidy gone, fuel prices are now similar across the region, making smuggling less profitable. Kyari called this a positive step for Nigeria’s energy sector, helping to ensure fair fuel prices for consumers.
