Reuters - Video

Edition: US | UK | IN | CN | JP

video Video

Bernanke steps into the spotlight
Bernanke steps into the spotlight - 02:13
The official royal wedding guest list revealed
The official royal wedding guest list revealed - 01:23
Shuttle astronauts arrive at Cape Canaveral
Shuttle astronauts arrive at Cape Canaveral - 01:18
Waiting for Bernanke
Waiting for Bernanke - 01:51
Hospital staff flee border fighting
Hospital staff flee border fighting - 01:10
Thousands at Sai Baba funeral
Thousands at Sai Baba funeral - 01:03
Al Qaeda releases hostage messages
Al Qaeda releases hostage messages - 01:43
Obama calls birth controversy \
Obama calls birth controversy "distracting" - 05:29
Three blasts hit Kirkuk
Three blasts hit Kirkuk - 01:25
Protests intensify in Yemen
Protests intensify in Yemen - 01:24
Border clashes displace thousands
Border clashes displace thousands - 01:50
S&P Credit Rating Warning Helpful - Lister
S&P Credit Rating Warning Helpful - Lister - 00:53

Nigeria slashes petrol prices

Monday, January 16, 2012 - 01:38

Jan. 16 - Nigeria's government tries to end mass protests and strikes with lower petrol prices after end of petrol subsidy causes uproar. Jessica Gray reports.

▲ Hide Transcript

▶ View Transcript

Nigeria's President Goodluck Jonathan attempts to calm citizens by slashing prices at the pumps. Many in Nigeria are angry after Jonathan ended a national petrol subsidy, sparking mass protests and strikes. The sudden cut meant prices more than doubled overnight to 150 naira per liter, or just under a U.S. dollar. Few say the government's decision to cap petrol at 97 naira per liter is enough to solve the subsidy issue or the country's struggle with poverty. (SOUNDBITE) (English) UNIDENTIFIED LAGOS RESIDENT SAYING: ''President Jonathan and his team of advisors have lost touch with reality, the idea is not about the amount, the idea is that you are coming against the voice of the Nigerian people, you do not decide that unilaterally, well what brought about 97, why not 94? What breakdown is that? What percentage growth is that? We are no longer stupid and he should not treat us and the rest of the world as if we don't know what is going on, we do." While unions suspended protests to enter new negotiations, some strikes could continue. If talks break down completely, the country's biggest oil union promised to cut production. Despite this, Jonathan's government has refused to back down and is likely to remove more subsidies he says breed waste and corruption. Jessica Gray, Reuters

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Nigeria slashes petrol prices

Monday, January 16, 2012 - 01:38

Featured Videos

Racing to 'catch' a U.S. spy plane

Racing to 'catch' a U.S. spy plane

Footage shot by a Reuters correspondent shows a military operation akin to something from a ‘Fast & Furious’ film: U.S. servicemen in muscle cars racing along a runway to guide a a U-2 spy plane coming in for a landing.
London's female wrestling scene boosted by Netflix show 'Glow'

London's female wrestling scene boosted by Netflix show 'Glow'

There has been more interest in female wrestling and a clearer sense of what it involves since hit Netlfix show 'Glow' came out
Chimpanzees can understand rock, paper, scissors

Chimpanzees can understand rock, paper, scissors

Chimpanzees can understand rock, paper, scissors, Japanese primatologists show
Bladerunners - UK lawnmowers in 12-hour endurance race

Bladerunners - UK lawnmowers in 12-hour endurance race

Drivers donned their suits and climbed into their cockpits at the weekend for a 12-hour endurance race with a difference: they weren't driving rallying cars, but lawnmowers
The highs and lows of Macron's first 100 days

The highs and lows of Macron's first 100 days

French President Emmanuel Macron heads into the summer break faced with falling popularity ratings after tough debates in parliament over labour reform and a public ethics law, a standoff with the military and cuts to housing assistance