Nigerians Reject 30% Reduction In Fuel Prices

Nigerians have rejected the 30 per cent reduction in fuel prices announced by President Goodluck Jonathan on Monday.

President Jonathan announced the 30 per cent reduction in fuel prices in recognition of the hardships suffered by the people during the recent hikes.

In a nationwide broadcast, President Jonathan, however, said that his government is working hard to reduce recurrent expenditure in line with current realities and to cut down on the cost of governance.

President Jonathan, in the broadcast, vowed to tackle corruption in the petroleum industry, as well as other sectors of the economy, saying, “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. ”

Nigeria has been saddled with protests and strikes since the government scrapped subsidies of fuel prices on January 1.

A reporter from Nigeria, Bernard Frimpong, told Citi News that the Labour Congress has cautioned protestors against hitting the streets on Monday due to the activities of criminals who are taking advantage of the protest to rob people of their belongings.

The new price is N44 less than the N141 announced by the Petroleum Products Pricing Regulatory Agency (PPPRA) on January 1st and N32 higher than the former price of N65.