Nigeria’s Costly Fuel Subsidies Back After Crude Price Spike
- State-owned oil firm keeps prices steady since December
- Labor unions warn of protests if prices are allowed to rise
This article is for subscribers only.
Nigeria is keeping the pump price of gasoline unchanged in March despite increasing crude costs, indicating that the nation’s costly fuel subsidies are back.
Prices will remain the same in “order not to jeopardize ongoing engagements with organized labor and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship,” Kennie Obateru, spokesman of the state-owned Nigerian National Petroleum Corp., said in a statement Monday. It is the third straight month that prices haven’t moved.