Nigeria cuts fuel prices about 30%: Read President Goodluck Jonathan’s speech

Nigeria’s President Goodluck Jonathan says January 16, 2012 the government has approved the reduction of the pump price of petrol to 97 naira (about $0.60) per litre following a week of strikes and protests against the move.

The government January 1, 2012 announced the removal of fuel subsidies leading to petroleum prices rising from 65 naira to 140 naira.

Mr Jonathan in a broadcast on national television said the price would drop by around 30% in recognition of the “hardships being suffered” by people, reports the BBC.

Labour unions are yet to react to the government’s announcement even though strike actions have been called-off.

By Ekow Quandzie

Read full text of Mr Jonathan’s speech:

Dear Compatriots,

This is the second time in two weeks I will address you on the deregulation of the downstream petroleum sector. In the last seven days, the nation has witnessed a disruption of economic activities. Although, the economic imperatives for the policy have been well articulated by government, the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) went ahead to declare a nationwide strike.

There was also near-breakdown of law and order in certain parts of the country as a result of the activities of some persons or groups of persons who took advantage of the situation to further their narrow interests by engaging in acts of intimidation, harassment and outright subversion of the Nigerian state. I express my sympathy to those who were adversely affected by the protests.

At the inception of the deregulation policy, Government had set up the Justice Alfa Belgore Committee to liaise with Labour and other stakeholders to address likely grey areas in the policy, but despite all our efforts, Labour refused the option of dialogue and also disobeyed a restraining order of the National Industrial Court of Nigeria.

However, following the intervention of the Leadership of the National Assembly, and other well-meaning Nigerians, Labour accepted to meet with government, but this yielded no tangible result.

It has become clear to government and all well-meaning  Nigerians that other interests beyond the implementation of the deregulation policy have hijacked the protest. This has prevented an objective assessment and consideration of all the contending issues for which dialogue was initiated by government. These same interests seek to promote discord, anarchy, and insecurity to the detriment of public peace.

Government appreciates that the implementation of the deregulation policy would cause initial hardships and commends Nigerians who have put forth suggestions and credible alternatives in this regard. Government also salutes Nigerians who by and large, conducted themselves peacefully while expressing their grievances. Let me assure you that government will continue to respect the people’s right to express themselves within the confines of the law and in accordance with the dictates of our democratic space.

Government will continue to pursue full deregulation of the downstream petroleum sector. However, given the hardships being suffered by Nigerians, and after due consideration and consultations with state governors and the leadership of the National Assembly, government has approved the reduction of the pump price of petrol to N97 per litre. The Petroleum Products Pricing Regulatory Agency (PPPRA) has been directed to ensure compliance with this new pump price.

Government is working hard to reduce recurrent expenditure in line with current realities and to cut down on the cost of governance. In the meantime, government has commenced the implementation of the Subsidy Reinvestment and Empowerment projects: including the Federal Government- assisted mass transit programme which is already in place, and job creation for the youth.

Furthermore, the legal and regulatory regime for the petroleum industry will be reviewed to address accountability issues and current lapses in the Industry. In this regard, the Petroleum Industry Bill will be given accelerated attention. The report of the forensic audit carried out on the NNPC is being studied with a view to implementing the recommendations and sanctioning proven acts of corruption in the industry.

Let me assure Nigerians that this administration is irrevocably committed to tackling corruption in the petroleum industry as well as other sectors of the economy. Consequently, all those found to have contributed one way or the other to the economic adversity of the country will be dealt with in accordance with the law.

My dear compatriots, I urge you to show understanding for the imperatives of the adjustment in the pump price of petrol and give government your full support to ensure its successful implementation. I further appeal to Nigerians to go back to work and go about their normal duties as government has made adequate arrangements for the protection of life and property throughout the federation.

Government will not condone brazen acts of criminality and subversion. As President, I have sworn to uphold the unity, peace and order of the Nigerian State and by the grace of God, I intend to fully and effectively discharge that responsibility. Let me add that we are desirous of further engagements with Labour. I urge our Labour leaders to call off their strike, and go back to work.

Nigeria belongs to all of us and we must collectively safeguard its unity.

Thank you. God bless the Federal Republic of Nigeria.

Federal Republic of Nigeria

  1. Maxwell okoro says

    Thanks my president. Its thoughtful of you 2 address us as ur own people. We love u bc u care, u r a listening leader but pls brother dont disappoint us, never mind d strike.2 whom much is given,much is expected,according 2 d Bible.

  2. Anonymous says

    Mr President i can bet that this subsidy removal wil and has never yielded anything to the nation.The poor cant suffer any more due ur extravangancy at d federal level.U shld live on 80 000naira for a month and see how hard it is.U lack feelings,its rather un4tunate!!!

  3. Anonymous says

    Thank’s mr president, please we nigerians need the former price dat we’ve been bying before for God sake.

  4. Anonymous says

    tank u mr president bt 95 per litre woundn’t b a bad option.and do some tin abt d fuel black market n boko haram.

  5. Enter your name... says

    I urge you mr. President to take courage and bring to the fufilment of her dream for nigeria and i want to bring it to the notice of my fellow nigerians if we dont suffer this pite today there is no way we can enjoy tomorrow .also most of us knows when ghana was suffering theirs but now most of nigerians are traveling to ghana to enjoy with them. So my fellow lovely nigerians, N.L. C., and many others let us understand our president and give him the suport so that we can enjoy our natural resources from God.thanks as you understand with your lovely sister.

  6. Anonymous says

    pls be practical. cut ur hyper expensive spending first. billions of naira 2 feed in one year is wasful 4 one who b4 now had no shoes 2 wear

  7. Enter your name... says

    Nigerians ar relief to some extents bt pls let see it on ground and not only in speech and paper. God bless nigeria

  8. Anonymous says

    Shut up!

  9. Enter your name... says

    We nigerians are ever ready to accept good or bad but the major causers of this problems are governors because politically they drives the president where they wish 2. they hijacked the public fund in their various states also local government inclusive. therefore, the states need to be scrapped down so that to allow development and progress to reach common man at grassroot level tanx

  10. Enter your name... says

    We’re greatful tanx mr, president

  11. Osekotie fabulous says

    Thanks be to God and to mr president

  12. Osekotie fabulous ovuodo says

    Mr president u are a good leader who listen to the voice of his people just like moses .i luv u

  13. Enter your name... says

    Talk talk talk all lies we hear dis from every government.

  14. kufre Okon, Ikot Asua says

    Thanks Sir,
    Pls help us work towards solving this problem once an for all, we can’t afford to go through this hardship some other time. We accepted the suffering cause we know you mean a solution to it.

    Pls heal our wound once and for all if not for anything but for the trust we invested on you.
    Thanks Mr. President Goodluck Ebele Jonathan GCFR

  15. Anonymous says

    Mr president u are elected to lead d people of Nigeria not to increase the price of fuel.

  16. Sulaimon says

    Comment reserved for now,lets watch nd see if mr president mean smthing.

  17. Anonymous says

    Comment reserved for now,lets watch nd see if mr president mean smthing.

  18. Elder OGSD says

    @lovely Sister (Anonymous). Good thinking, sister.

    The problem with our pple is that we hardly ever look at the larger picture. And this comment also goes for NLC/TUC and the others.

    Yes, increase in fuel price will be hard on everyone. But the more important question shld have been; what is it supposed to achieve? If the objective is good, NLC and others then ought to go after govt to make them accountable for every kobo and ensure that the set objective is pursued to the letter.

    NLC and others have now emerged as arrowhead of protests that lack true meaning. Why were they insisting on N65? Don’t people have to work to get it? Did government seek Labour’s approval to fix pump price at N65 back then? No. Yar’adua, then, wanted to make the price of N70 stand. Pple said “No”, so he chipped off N5. Labour still said “No”, but the late President was no longer listening. That was how we landed with N65.

    The economies of most countries are now floundering including those of European countries and the USA. Nigeria is not a different world. Kudos to a government that seeks to make the best of a bad situation. Labour ought to be the nation’s watchdog to see that the government remains focused and absolutely accountable for every kobo of the nation’s wealth.

    In every life, sacrificing are necessary some times. No woman puts to bed smiling. But the end result…

    A word is sufficient…

  19. S. A Yoladoka says

    The CBN governor said the truth of what is actualy running in the federal gov’t.

  20. A.FOLUSHO says


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