Teaching Comparative Government and Politics

Monday, January 16, 2012

Easing one set of tensions

Nigeria is facing a number of serious political and economic crises. The government has moved to try to relieve one of them.

FG Offers N110, N120 Per Litre

ORGANISED Labour was last night considering the latest offer from President Goodluck Jonathan to scale down the price of petrol to between N110 and N120.

The President also directed the Economic and Financial Crimes Commission, EFCC, to immediately commence a probe of the utilization of the more than N1.3 trillion subsidy fund.

President Jonathan in meetings with a select team of labour leaders was understood to have made the offer with a proviso that full deregulation of the sector would commence in April…

Protests Suspended As FG Cuts Petrol Price to N97

President Goodluck Jonathan, in a nationwide TV address Monday morning, announced a cut in petrol price from around N141 to N97 after prolonged street demonstrations over the deregulation policy.

Also, the labour unions told the media early Monday morning that they were suspending street protests because of the political dimension it had taken but insisted that the strike would go on.

In the broadcast, Jonathan said he had to review the pump price in response to the outcry over the hardship caused by the total subsidy removal and vowed to investigate the subsidy account with a view to punishing those who fraudulently bled the country and nearly destroyed the economy.

He also promised a detailed study of the forensic audit of the account of the Nigerian National Petroleum Corporation, (NNPC) with a view to curbing corruption in the oil and gas sector of the economy so as to rid it of corruption…

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