Dangote: Petrol cheaper in Nigeria than neighbours

Aliko Dangote, President of Dangote Industries Limited, has said that petrol is relatively cheaper in Nigeria than in neighbouring countries, a price difference he said continues to encourage cross-border smuggling. In an interview with Arise Television on Tuesday, Dangote responded to questions about rising petrol prices in Nigeria, stating that the cost should be considered in relation to prices in neighbouring countries, where consumers pay between 30 and 50 per cent more. He noted that the price differential creates an incentive for traders to move petrol across Nigeria’s borders for higher returns. Dangote also mentioned that there is still a lot of smuggling of the petrol produced in Nigeria to neighbouring countries.

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