Nigeria slashes fuel prices over strike
Press TV – January 16, 2012
Nigerian President Goodluck Jonathan has ordered a decrease in fuel prices in a bid to end a nationwide strike heading into a second week.
President Jonathan said that the government decided to reduce petrol prices by 30 percent to 97 naira (about 60 US cents) per liter “after due consideration and consultations with state governors and the leadership of the National Assembly.”
“[The] government will continue to pursue full deregulation of the downstream petroleum sector,” he said in a televised address on Monday.
Jonathan made the remarks after the latest round of talks between the government and trade unions ended with no sign of a compromise over the removal of fuel subsidies.
On January 1, the government hiked petrol prices to more than double from 65 naira (40 cents) per liter to about 150 naira (92 cents).
The decision sparked nationwide strikes and protests that paralyzed the oil-rich country since January 9. The strikes also cost the economy billions of dollars in lost revenue.
The unions on Sunday vowed in a statement to continue the strikes and protests if the government did not reverse its decision on the subsidies.
The unions had demanded the government to restore an estimated USD 8 billion a year in fuel subsidies, but the government only promised to slightly lower the prices.
Nigeria produces over 2 million barrels of crude per day and is a key supplier to the US, Europe, and Asia.
The developments come as concerns over Nigerian oil supplies have pushed up global oil prices.
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Occupy Nigeria – Week 2!
FlorinSandu | January 16, 2012
Surprising enough for many, the strike over the removal of fuel subsidy is entering its second week today despite the announcement made early this morning by president Goodluck Jonathan through national newspapers that the official price of fuel is now 97 naira, down from 141 naira.
It seems that labor unions and civil society activists are holding their ground for now and respecting one of the main mottos of the Occupy Nigeria movement: “down to 65 or no deal!”. At the same time, the various scattered episodes of street violence across the country has made the unions call off street protests while still continuing with the strike.
The FG , in an attempt to prevent more street protests in Lagos today, has sent military troops and created various checkpoints across the important meeting points of protesters throughout the past week, such as the Ojota area and Ikorodu road. However, protesters are now meeting at the famous Afrika Shrine in Ikeja to continue with their protest in a peaceful manner.
The president is expected to adress the nation today, and rumours of the strike coming to an end soon are in the air.
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