Askari Kanzu
JF-Expert Member
- Jan 7, 2011
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16 January 2012
Nigeria 'to drop price of petrol'
Nigeria's President Goodluck Jonathan has announced an immediate drop in the price of fuel, following a week of strikes and protests. Mr Jonathan said the price would drop by around 30% in recognition of the "hardships being suffered" by people.
Nigeria has been paralysed by strikes and protests over the government's decision to scrap fuel subsidies. The removal of subsidies from 1 January caused petrol prices to rise from 65 naira ($0.40; £0.26) to 140 naira.
The unions have yet to respond to Mr Jonathan's announcement. Earlier, they called off street protests due to security concerns, but warned that a week-long general strike would continue.The strike has already cost the economy billions of dollars in lost revenue.
'Stay off the streets'
"Government will continue to pursue full deregulation of the downstream petroleum sector," Mr Jonathan said in a televised national address.
"However, given the hardships being suffered by Nigerians, and after due consideration and consultations with state governors and the leadership of the National Assembly, government has approved the reduction of the pump price of petrol to 97 naira (about $0.60) per litre." Mr Jonathan's speech comes after a weekend of talks with the unions failed to prevent the strike from continuing into a second week.
Abdulwaheed Omar, president of the Nigeria Labour Congress union, said he would urge his members to "stay off the streets... because of the security situation" but stressed the nationwide strike would continue.
BBC
Nigeria 'to drop price of petrol'
Nigeria's President Goodluck Jonathan has announced an immediate drop in the price of fuel, following a week of strikes and protests. Mr Jonathan said the price would drop by around 30% in recognition of the "hardships being suffered" by people.
Nigeria has been paralysed by strikes and protests over the government's decision to scrap fuel subsidies. The removal of subsidies from 1 January caused petrol prices to rise from 65 naira ($0.40; £0.26) to 140 naira.
The unions have yet to respond to Mr Jonathan's announcement. Earlier, they called off street protests due to security concerns, but warned that a week-long general strike would continue.The strike has already cost the economy billions of dollars in lost revenue.
'Stay off the streets'
"Government will continue to pursue full deregulation of the downstream petroleum sector," Mr Jonathan said in a televised national address.
"However, given the hardships being suffered by Nigerians, and after due consideration and consultations with state governors and the leadership of the National Assembly, government has approved the reduction of the pump price of petrol to 97 naira (about $0.60) per litre." Mr Jonathan's speech comes after a weekend of talks with the unions failed to prevent the strike from continuing into a second week.
Abdulwaheed Omar, president of the Nigeria Labour Congress union, said he would urge his members to "stay off the streets... because of the security situation" but stressed the nationwide strike would continue.
BBC