NIGERIANS PROTEST OVER REMOVAL OF FUEL SUBSIDY
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.
延伸閱讀
- DEATH TOLL REACHES 652 IN PHILIPPINES2011/12/19
- NO APOLOGIES FOR HOSTAGE VICTIMS2011/08/24
- S. KOREA CALLS TO END NUCLEAR ACTIVITIES2012/01/03
- TRYING OUT CLOTHES WITHOUT THE HASSLE?2011/12/07
- OBAMA PARDONS TWO LUCKY TURKEYS2011/11/25
- HUNDREDS OF FIREFIGHTERS BATTLE BLAZES IN CHILE2012/01/04
- STABBING INCIDENT RAISES TENSIONS2011/12/14
- SOUTH KOREANS DENOUNCE NORTH'S COMMUNIST REGIME2011/12/27
- THE WORLD WELCOMES 20122012/01/02
- ARTISTS RECEIVE KENNEDY CENTER HONORS2011/12/07
- NATIONWIDE PROTESTS AS FUEL PRICE SOARS2012/01/11
- NARROWEST VICTORY FOR MITT ROMNEY2012/01/05








