- The removal has now aligned fuel prices, reducing the financial incentive for illegal cross-border transport of Premium Motor Spirit (PMS)
The removal of fuel subsidies in Nigeria has significantly curbed the smuggling of petrol across its borders, according to Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC).
Speaking to Channels TV on Sunday, Kyari explained that before the subsidy was scrapped, a large price disparity between Nigeria and neighbouring countries made smuggling highly lucrative.
The removal has now aligned fuel prices, reducing the financial incentive for illegal cross-border transport of Premium Motor Spirit (PMS).
Kyari described the subsidy removal as a “game-changer,” noting that price parity across borders has led to a marked decline in smuggling activities.
He also said that this development ensures that consumers in Nigeria are now paying fair prices for fuel.