Nigeria bank boss Sanusi defends fuel subsidy removal

Oil & Gas
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January 4, 2012

Nigeria's labour unions have called for a nationwide strike on Monday over the government's removal of fuel subsidies.

Protesters have been out in parts of the country complaining that the rise in petrol prices has severely affected their cost of living.

In its defence, the government says that the billions of dollars in savings will be spent on infrastructure and development.

One man who has backed the calls for the removal of the subsidy is the governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi.

"Subsidies should be subsidies for production and not for consumption," he told the BBC's Focus on Africa programme.

Source: BBC News

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