Vanguard Online Edition : Petrol: How much will Nigerians pay?
Vanguard Online Edition : Petrol: How much will Nigerians pay?: "Petrol: How much will Nigerians pay?
By Emma Ujah Abuja
Sunday, June 20, 2004
For Nigeria, a nation that prides herself as the world's number six producer of crude oil, increases in prices of crude oil at the international market have consistently disrupted the local economy as shocks are easily noticed in terms of resistance to products prices increase. The issue of fuel price increase has ever been volatile-even under military dictatorship.
The decision by President Olusegun Obasanjo to deregulate the downstream sector of the oil industry did not go down well with most Nigerians. The fears were and still are that marketers, like all capitalists, have little regard for the people. Therefore, the public apprehension over being left at the mercy of marketers is somewhat genuine.
Prices have more than doubled since Chief Obasanjo took over in May 1999. Only this year alone, we have witnessed price movements from N34 per litre in January to N42.80k and N43 in May and then the all-haul jump to N51 per litre. At the fuel stations pumps, Nigerians have never paid this much. And as such, Labour has a reason to complain.
"
By Emma Ujah Abuja
Sunday, June 20, 2004
For Nigeria, a nation that prides herself as the world's number six producer of crude oil, increases in prices of crude oil at the international market have consistently disrupted the local economy as shocks are easily noticed in terms of resistance to products prices increase. The issue of fuel price increase has ever been volatile-even under military dictatorship.
The decision by President Olusegun Obasanjo to deregulate the downstream sector of the oil industry did not go down well with most Nigerians. The fears were and still are that marketers, like all capitalists, have little regard for the people. Therefore, the public apprehension over being left at the mercy of marketers is somewhat genuine.
Prices have more than doubled since Chief Obasanjo took over in May 1999. Only this year alone, we have witnessed price movements from N34 per litre in January to N42.80k and N43 in May and then the all-haul jump to N51 per litre. At the fuel stations pumps, Nigerians have never paid this much. And as such, Labour has a reason to complain.
"
posted by Nnaemeka Nwosu at 4:14 PM
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