Togo: Fuel subsidies exceed CFA12 billion in April alone

Transport

Friday, 29 April 2022 16:06

Togo: Fuel subsidies exceed CFA12 billion in April alone

(Togo First) - The Togolese government has spent in April alone more than 12 billion CFA on fuel subsidies. “Regarding petroleum products subsidies, we have exceeded CFA12 billion for April alone,” Kodjo Adedze, Minister of Trade, told journalists during a press conference on April 28, 2022. He co-hosted the conference alongside his peers, the minister of human rights, the minister of communication (spokesperson of the government), and the secretary-general of the government.

In detail, "based on current global market rates, unleaded super would be sold at CFA851 per liter,” said Kodjo Adedze, noting that "the State pays nearly 256 additional francs to ensure that this product is available at the pump at the current price (595 CFA francs, editor's note)”.

Adedze emphasized supply issues, caused by oil scarcity. “Price is not the only the issue, availability is as well,” the official noted.

A month ago, the government raised fuel pump prices, amidst global inflation. There was a 16% increase in the price of super unleaded and a 13.8% increase in the price of the two-stroke mixture.

Ayi Renaud Dossavi

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