Nigeria: War of words over deregulation

  1. Posted on Thursday 5 November 2009 - 14:46
    Emeruwa
    Image of Emeruwa
    Victor Emeruwa, AfricaNews reporter in Lagos, Nigeria
    Nigerian Labour Congress is leading a national protest over the proposed deregulation of the downstream oil sector of the economy. The labour union under the leadership of Wahab Umaru has warned the government that it will shut down economic activities and call for an indefinite industrial strike action to protest the proposed deregulation of petroleum product.
    Africa20Oil.jpg
    The cost of fuel has increased from N65 per litre (about 40cents) to N120 per litre (about 75cents). Petroleum marketing companies are beginning to hoard the product for fear of losing control of the price.

    The NLC President Umaru argued that the proposed deregulation of the downstream sector is unnecessary at the moment if the refineries are not in good working condition. He said “it is shameful that we cannot refine our crude ourselves…. for a country whose main foreign income comes from crude oil we have no excuse not to refine our oil.”

    Umaru is not totally against the idea of what he calls real deregulation, a situation where government will control the price of fuel and create lasting stability. “I am not against deregulation, but this kind of deregulation that is being championed will definitely increase the pump price of fuel… that is what we are not in support of,” he said.

    The Presidential spokesman Segun Adeniyi in a press interview denied allegation that the government plans to increase the price of fuel. “The government has not come out to say it will increase the prices of fuel,” he said.

    Although there are no official statement from the government, there are signals from the Nigeria National Petroleum Corporation, NNPC that the deregulation process are underway. The NNPC is running television commercials that encourage deregulations.

Latest News

  1. AFCON: 46 hurt in Zambia victory celebrations09/02Over 40 casualty cases were recorded Wednesday night at Zambia's University Teaching Hospital (UTH) after post-match celebrations turned violent …
  2. African Peer Review Mechanism making progress08/02In 2003 the New Partnership for Africa's Development (NEPAD), the continental development plan, initiated the African Peer Review Mechanism (APRM…
  3. Combating HIV infections among African women08/02With a lack of knowledge and power, African women continue to bear the brunt of HIV infections.
  4. Legume cultivation booms in Western Kenya07/02Small Holder Farmers (SHFs) who traditionally relied on seed companies for all their seeds are now bulking their own legume seeds for their farms.
  5. Malawi vendors chase out Chinese07/02Vendors in Kalonga, the Northern district of Malawi, on Wednesday petitioned the District Commissioner to flash out all Chinese nationals who are doin…
  6. Zim: Informal sector urged to join HIV battle05/02While the Harare City council is busy engaging in running battles with city vendors, Health Minister has called for authorities to devise ways to form…
  7. Elections: Wole Soyinka warns Mugabe, Wade03/02The Nigerian Nobel Prize winner for literature said heads of states who are trying to cling to power suffer the same fate as the dictators who were sw…
  8. AU elections rescheduled for June in Malawi01/02Following a deadlock during Monday's African Union elections, with a tie between former wife to South African president Jacob Zuma, Home Affairs …
  9. Senegal in turmoil as protest intensifies01/02Hundreds of anti-government protesters Tuesday gathered in the central Dakar, Senegal to show their dissatisfaction over the incumbent president Abdou…
  10. Zimbabwe’s inflation still favourable -…01/02Zimbabwe's annual headline inflation still compared favourably with economies in the region, Reserve Bank of Zimbabwe Governor Gideon Gono said o…
  11. AFCON 2012: Sudan qualifies after four decades31/01The Sudanese national team has sealed a historic win over the Stallions of Burkina Faso.
  12. Senegalese opposition to intensify protests31/01Opposition and civil society groups in Senegal have vowed to increase their fight against incumbent President Abdoulaye Wade's presidential bid.
  13. Malawi: Rights coalition condemn stripping of…30/01The 39 members of the Solidarity for African Women's Rights Coalition based in 18 African countries have vehemently condemned the stripping of wo…
  14. Kenya to deworm five million children annually30/01Kenya launched the second phase of its national deworming programme at the World Economic Forum Annual Meeting 2012, aiming to treat 5 million childre…
  15. Benin’s Yayi Boni is AU’s new…30/01President Yayi Boni of Benin Republic has been elected chairperson of the African Union in the Ethiopian capital Addis Ababa
News archive