LAGOS, Nigeria - Angry
mobs in Nigeria are protesting a government decision to stop a subsidy program
that kept the price of gasoline low for more than 20 years, the Associated
Press reports. By ending the popular subsidy, the government wants to use the
$8 billion it will save to improve infrastructure, but others, such as Olapido
Fashino, a union leader, call the decision "immoral and politically suicidal."
Over the years, any
attempts to change the subsidy in any way have been met with protests across
the nation of more than 160 million. Yesterday, protestors went to gas stations
asking owners not to sell gasoline at the increased price of around $3.50 per
gallon, more than double what was charged a few days ago (around $1.70 per
gallon).
Many Nigerians use
gasoline to run generators, which are needed by businesses and residents on a
daily basis because of spotty electrical service. The fuel hike will likely up
food costs, too.
Even though President
Goodluck Jonathan said that a committee will oversee that the $8 billion from
ending the subsidy program will be used for needed improvements, many Nigerians
have not seen any benefits from the country??s oil supplies. Experts point out
that the gasoline price increase will probably trigger higher prices in the
north because of its landlocked position.