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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: macavity who wrote (50827)	6/10/2004 3:11:07 AM
From: elmatador	Read Replies (1) of 74559

Fuel strike cripples Nigeria ABUJA (dpa) - Streets in the Nigerian capital were nearly empty Wednesday as a general strike began to protest the latest government increase in fuel prices. The strike began despite a high court order Tuesday ordering labour unions to desist from striking and advising the Nigerian government to reduce the price of petrol. In marked contrast to empty streets and closed businesses, the police presence in the capital was very visible. Some closed petrol filling stations were being guarded by police. Workers also stayed home in Lagos, the hub of commercial activity in Nigeria. Many small businesses operating in residential buildings were open. Police in Lagos deployed 22,000 officers, including riot police. Murtala International Airport outside Lagos was nearly deserted as aviation workers stayed away from work. The government raised fuel prices by 20 per cent on May 29 to the equivalent of 29 US cents per litre. Despite substantial oil reserves, Nigeria is dependent on imported petrol due to the dilapidated state of domestic refineries.

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