Nigeria: Protests Take Place Against Subsidy Removal
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Wednesday, 04 January 2012 |
Organised protests against the removal of fuel subsidies have taken place in Abuja, Lagos and Kano, as consumers react to a policy that has more than doubled petrol prices at a stroke. After a long lead-in time, the subsidy on petrol was removed by the Petroleum Products Pricing Regulatory Agency (PPPRA), suggested prices from the agency rose from N65 to roughly N144.
As local media reported fuel prices rising to as much as N160 per litre, protests were organised in major cities and reports of crowds blockading fuel service stations emerged. Former military president General Ibrahim Babangida (pictured) also criticised the move in a statement. "The issue of subsidy should be seen more as politics and not economics, because the sole purpose of government is for the good of the people and not to create hardship," he remarked. "It is better to seek a political solution to the subsidy discourse than invoking the sentiments of economics. Government should have kept its word till April, by which time better explanation would have been given before implementation takes effect. The National Assembly should have been made to be part of the decision-making process since the 2012 budget is yet to be discussed and passed by the Legislature," added Babangida.
The Government of Goodluck Jonathan has announced the formation of the Subsidy Reinvestment and Empowerment Programme Board to manage funds saved from removal of fuel subsidies. The board is headed by Dr. Christopher Kolade, with former Chief Justice Salihu Modibbo Alfa Belgore also appointed to lead a dialogue committee that will meet with labour and all other stakeholders. The board will include two National Assembly representatives, representatives of organised labour and other stakeholders. “The mandate of the board shall be to oversee the fund in the petroleum subsidy savings account, and the programme specifically to improve the quality of life of Nigerians in line with the transformation agenda of Mr. President,” said a spokesman.
PetrolWorld 04012012
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