NIGERIA: Nigerian unions in Lagos embark on streets protest kicking against the sudden more than doubling of fuel prices, after government subsidies were removed in sweeping economic reforms

Record ID: 235432

  • Title: NIGERIA: Nigerian unions in Lagos embark on streets protest kicking against the sudden more than doubling of fuel prices, after government subsidies were removed in sweeping economic reforms
  • Date: 4th January 2012
  • Summary: LAGOS, NIGERIA (JANUARY 03, 2012) (REUTERS) VARIOUS OF PROTESTERS CARRYING BANNERS MARCHING IN THE STREETS (SOUNDBITE) (English) SEUN KUTI, SON OF AFRO BEAT KING FELA KUTI ADDRESSING THE PROTESTERS, SAYING: "Jonathan is Nigeria's only terrorist. We can not agree to this kind of financial IMF terror. Nigeria cannot pay the same price of petrol as Americans, we don't have American minimum wage." PROTESTER HOLDING PLACARD READING, "JONATHAN IS A FRAUD" PROTESTER WEARING RED BAND ON HIS HEAD PROTESTER CARRYING PLACARD, READING, "IMPEACH JONATHAN AND SAMBO NOW" PROTESTERS CARRYING PLACARDS SAYING,"WHAT KIND OF DEMOCRACY IS THIS, PEOPLE SAY NO TO JONATHAN", "WE SAY NO TO FUEL SUBSIDY" PROTESTERS MARCHING DOWN THE STREETS PROTESTERS SHUTTING DOWN PETROL STATIONS FUEL CONTAINERS SCATTERED BY PROTESTERS (SOUNDBITE) (English) ZANAMI ALFRED, PROTESTERS, SAYING: "Nigerians need to come and fight against this injustice, not only to the present generation but to the generation that are yet to be born." PROTESTERS MARCHING
  • Embargoed: 19th January 2012 12:00
  • Keywords:
  • Location: Nigeria, Nigeria
  • Country: Nigeria
  • Topics: Economy,Energy
  • Reuters ID: LVA4MXXNYQW5U9XYXUZ16HSFYJWQ
  • Story Text: Nigerian unions in Lagos on Tuesday (January 3) embarked on streets protest kicking against the sudden more than doubling of fuel prices, after government subsidies were removed in sweeping economic reforms.
    Unionists and local rights groups condemned the move by the state's fuel regulator, which they say will hike the prices of goods at a time when many Nigerians, the majority of whom live on less than $2 per day, already find basic commodities too expensive.
    Seun Kuti, musician and younger son of late Afrobeat king Fela Kuti urged the protesters not give up the fight for their rights even when it appears impossible to succeed. He blamed the Nigerian government for the current problem.
    "Jonathan is Nigeria's only terrorist, we can not agree to this kind of financial IMF terror, Nigeria cannot pay the same price of petrol as Americans, we don't have American minimum wage," said Kuti.
    The protester later vented their anger by raiding and shutting down several petrol stations that were selling fuel at the new prices.
    But their removal remains an explosive political issue. A lot of Nigerians see the subsidy as the sole benefit they get from living in a major crude oil producer.
    "Nigerians need to come and fight against this injustice, not only to the present generation but to the generation that are yet to be born," said Zanami Alfred.
    Economists have long argued the fuel subsidies were hugely corrupt, wasteful and simply bled money from the Treasury into the pockets of a group of wealthy fuel importers.
    Nigeria produces more than 2 million barrels per day of crude oil, but a lack of investment in refineries and infrastructure means almost all of it is exported, while refined products such as gasoline have to be imported at great cost.
    The Central Bank of Nigeria said that country used $16 billion of its foreign reserves on imported fuel in the first 11 months of last year - half of it sold by the bank to petroleum importers, the other half spent by the Treasury on the subsidy.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register