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updated 4:14 AM EEST, Jul 23, 2014

Fuel subsidy removal: Nigerian Government agrees to revert to N65/liter under certain conditions

Remove Corruption not SubsidyAs a follow up to our previous publication, Fuel subsidy removal: Labour, FG agree to shift grounds to end protest, Vanguard confirms that the Nigerian government has agreed to revert to N65 per liter under certain conditions.

According to Vanguard:

At a marathon meeting attended by President Goodluck Jonathan, organised labour, the leadership of the Senate and the representatives of state governors, labour was given two options for the reinstatement of the N65 per litre price of petrol. The first option is to revert to the pre-New Year price on the condition that the subsidy regime would be completely removed in April.

The second option is to allow the N65 selling price of petrol and withdraw 80% of the subsidy in March, meaning that petrol would sell for N120 if the current price regime remains in force.

What do you think about these conditions?

Meanwhile, CNN Marketplace Africa will be running a special feature on Nigeria’s fuel subsidy protests beginning today and with repeat programming throughout the weekend. Check out the schedule in this post.

Also, check out the transcript of the upcoming CNN video feature in this post.

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