Nigeria hikes gasoline prices by 50 per cent

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Thursday, June 1 , 2000 -- Safar 27, 1421 A.H. Nigeria hikes gasoline prices by 50 per cent: officials (Updated at 1610 PST)

LAGOS: The Nigerian government has raised the domestic price of gasoline by 50 per cent in order to end costly subsidies, senior government officials said on Thursday.

They said the increase was decided on Wednesday night at a senior management meeting of state-owned Nigerian National Petroleum Corp (NNPC). The NNPC shoulders the financial burden of fuel subsidies that have been a bone of contention in Nigeria's negotiations with Western creditors.

The price of gasoline has been raised from 20 naira ($0.19) to 30 naira ($0.29) per litre with immediate effect, the officials said.

http://www.jang.com.pk/thenews/index.html

-- Martin Thompson (mthom1927@aol.com), June 01, 2000


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