Nigeria fuel subsidy end raises protest fears

The Nigerian authorities have announced the start of a controversial plan to scrap fuel subsidies - which is expected to push up petrol prices. The government has spent more than $8 billion on the subsidies in the past year and says it will use some of the money to improve infrastructure, according to the BBC. Labour unions have called for "mass protests". Many Nigerians regard cheap fuel as the only benefit they get from the nation''s oil wealth. The announcement was made in a statement from regulators, which said the changes would begin immediately. "The Petroleum Products Pricing Regulatory Agency wishes to inform all stakeholders of the commencement of the formal removal of the subsidy on Premium Motor Spirit," it said. "Consumers are assured of adequate supply of quality products at prices that are competitive and non-exploitative and so there is no need for anyone to engage in panic buying or product hoarding," it read. Nigeria''s two main labour organisations, the Trades Union Congress and the Nigerian Labour Congress, issued a joint statement condemning the move. Nigeria is Africa''s biggest oil producer but most of the available two million barrels per day are exported in an unrefined state. (QNA) SHM/LY