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May 23, 2013
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News in 'Economy' section
The Nigerian government has announced measures it says would ease the effects of the fuel subsidy removal to put hundreds of buses on the streets, as Nigerian labour unions called for national strike and more protests.
The demand of the country’s main unions is that the fuel subsidy be restored, otherwise they say an indefinite strike will begin on Monday along with mass demonstrations.
Latest reports from Nigeria say President Goodluck Jonathan is calling for an emergency meeting of the Federal Executive Council, in the wake of violent protests across the country against petrol subsidy removal.
The government’s withdrawal of fuel subsidy continue to enrage citizens in Africa’s biggest oil exporting nation, with protests, while an executive of OSIWA says the Goodluck Jonathan government is ‘insensitive’ as the move could further instability.
Transport unions in Senegal have suspended their strike action.
The strike, which lasted for two days, left thousands of commuters stranded, as taxis and other private commercial vehicles stayed off the streets on Monday and Tuesday.
The Ghana National Petroleum Authority (NPA) has increased the prices of petroleum products in the country between 15 and 20 percent.
The state-owned electricity provider, SENELEC, in Senegal has launched an emergency power distribution plan.
International Monetary Fund chief, Christine Lagarde has urged developing nations to build up their economic defences.
Fuel scarcity is worsening in Nigeria and solutions are yet to be found by the government of President Goodluck Jonathan.
Eighteen members of the U.S. Congress have urged their government to insist on a full investigation of “credible reports” that senior Sierra Leonean officials offered permission to conduct illegal and destructive logging operations in exchange for bribes.
Fuel shortage has emerged in major cities in Nigeria, including Lagos and Abuja, shortly after President Goodluck Jonathan announced the country's 2012 budget, sparking concerns over possible adverse affects of the lack of fuel subsidy in the proposed budget on the socio-economic condition of the population.