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Nigerians occupy streets over fuel subsidy removal

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Nigerians protesting the recent removal of fuel subsidy which has lead to increases in the prices of petroleum products and transport fares have occupied streets in various parts of the country.

Thousands, according to reports reaching ghanabusinessnews.com have gone out onto the streets.

The federal government of Nigeria announced the removal of fuel subsidy New Year’s day January 1, 2012.

The announcement was made by Nigeria’s Petroleum Products Pricing Regulatory Agency (PPPRA) in a statement.

According to the PPPRA, a litre of petrol, Premium Motor Spirit (PMS),  will now sell for N141.

The IMF has long urged Nigeria’s government to remove the subsidy, which costs a reported $8bn (£5.2bn) a year.

Even though Nigeria is Africa’s biggest oil producer, it imports refined fuel because most of the country’s refineries are broken down.

By Emmanuel K. Dogbevi

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2 comments

  1. It Ȋ̝̊̅§. ‎​ indeed disheartening. That at this point I̶̲̥̅̊n̶̲̥̅̊ the lives of Nigerians that the goodluck/sambo Α̲̅я̩̥̊ε̲̣̣̣̥ frustrating Nigerians. They want the Rich 2 remain Richer while the poor poorer. It Ȋ̝̊̅§. ‎​ ​A̶̲̥̅̊ disaster 2 the nations economy.

  2. All we the teeming masses in Nigeria are asking the Federal Government to do is simply, to put all the promised cushoning effect measures in place first, including fixing the refineries, before fuel subsidy removal. Let the FG learnt to, for once, put the Horse before the Cart!