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	Nigeria cuts fuel prices cut after national strike Mon Jan 16, 2012 2:44 pm

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Post subject: Nigeria cuts fuel prices cut after national strike

Nigeria cuts fuel prices cut after national strike

Are you protesting fuel prices in Nigeria? Send CNN iReport your stories, videos

Lagos, Nigeria (CNN) -- The Nigerian government has slashed fuel prices after a nationwide strike paralyzed the country last week.

President Goodluck Jonathan made the announcement Monday. Minutes later, the federal government ordered all civil servants to report to work, or risk losing their jobs.

It was not immediately clear whether labor unions would continue the strikes. Union leaders had earlier said they would resume protests Monday.

Throngs of protesters have taken to the streets to demand government accountability and a return of fuel subsidies that ended on January 1, a move that doubled gas prices and sent the costs of other goods skyrocketing.

Scattered protests escalated into a national strike that started a week ago, paralyzing the nation of more than 160 million people.

Talks between labor unions and the government ended without a compromise late Sunday night, despite the president's participation.

Last week, a major oil union, Petroleum and Natural Gas Senior Staff Association of Nigeria, had threatened to halt production in solidarity with protesters if the two sides didn't reach an agreement.

A move to halt production would reverberate on the global market. Nigeria is the world's eighth-largest crude exporter.

Demonstrations started as an outcry against the removal of fuel subsidies and grew into anger against government corruption. Nigerians consider the subsidies one of the few benefits of living in an oil-producing nation that has little infrastructure, high unemployment and intermittent electricity.

The protests -- dubbed "Occupy Nigeria" -- have galvanized the continent's most populous nation.

Nigerians accuse their leaders of corruption and misusing oil revenues in a country where most citizens battle grinding poverty.

The government has said the removal will free up billions this year to boost the economy and improve the country's infrastructure.

But there is a widespread lack of trust in the government to provide the infrastructure; Nigeria is regularly ranked among the most corrupt countries in the world.

Finance Minister Ngozi Okonjo-Iweala said Nigerians should not let the past determine the future. She said the goal now is to regain the citizens' trust and move forward.

"They cannot say because of mistakes in the past the country should not move forward," she said.

http://rss.cnn.com/~r/rss/cnn_topstories/~3/JsmmLttSYIk/index.html

	Nigeria cuts fuel prices cut after national strike Mon Jan 16, 2012 2:44 pm

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