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NIGERIANS PROTEST OVER REMOVAL OF FUEL SUBSIDY

2012-01-05 06:00:00 / 綜合報導 /
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  A wave of demonstrations has been triggered, with thousands of angry citizens protesting against the removal of a fuel subsidy.   The government ended its fuel subsidy on Sunday, doubling the cost of a liter of gasoline from 65 naira to 141 naira, which is around 40 cents to 86 cents.   The end of subsidy is announced as part of sweeping economic reforms designed to improve fiscal discipline in Africa's biggest oil producer. However, for impoverished citizens who live on less than 2 dollars a day, doubling the fuel price has made their life more difficult.   Many people have stopped cars from moving in order to save cost, while many people accused the government for bringing the hike abruptly by sacrificing poor citizens. Meanwhile, the government officials still have huge salaries.   In response to peoples outcry, Nigerian President Goodluck Jonathan's government says he believes the removal of fuel subsidies would have a positive impact on the country's economy. Nigeria has been relaying on imported fuel because it has no functional refineries, despite the fact that Nigeria is one of Africas largest oil producers.   The government said that the money saved will be used to invest elsewhere such as refineries. According to the Central Bank of Nigeria, the country used 16 billion US dollars 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, while the other half is spent by the Treasury on fuel subsidy.
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