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Obasanjo increases petrol price in Nigeria

Less than 48 hours to the end of his tenure, Nigerias President Olusegun Obasanjo increased the pump price of petrol from 51 cents a litre to 59 cents a litre Sunday.

By (DPA)

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Published: Sun 27 May 2007, 4:46 PM

Last updated: Fri 21 Oct 2022, 12:08 PM

It was the sixth time Obasanjo would increase pump prices of petroleum products since he became president in the oil-rich West African country in May 1999. Obasanjo is expected to hand over to his successor, Umar Yar’Adua on May 29.

The sixth largest oil exporter, Nigeria does not have a functional refinery of its own, but relies on imported petroleum products.


Sunday’s increase in petroleum products prices was greeted with anger by many Nigerians who felt that Obasanjo should leave the economy in the hands of his successor, who would be in office Tuesday.

Reflecting the views of many, a motorist, Ladi Andre, told Deutsche Presse-Agentur DPA that ‘Obasanjo knows that Nigerians will resist the increase in fuel prices. He only wants to create a problem for Yar Adua.

Civil liberties groups, labour and opposition parties have called on Nigerians to begin a 48-hour sit-at-home strike from Monday to protest the result of the elections that made Yar’Adua president on April 21 as they condemned the ruling Peoples democratic Party for stealing the mandate of the people.


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