BR100 Decreased By (-0.7%)
BR30 Decreased By (-0.77%)
KSE100 Decreased By (-0.53%)
KSE30 Decreased By (-0.55%)
BECO 5.66 Decreased By ▼ -0.02 (-0.35%)
BML 63.53 Decreased By ▼ -1.31 (-2.02%)
BOP 33.60 No Change ▼ 0.00 (0%)
CNERGY 8.14 Decreased By ▼ -0.10 (-1.21%)
DCL 11.40 Increased By ▲ 0.05 (0.44%)
FCCL 52.18 Decreased By ▼ -0.73 (-1.38%)
FCSC 5.52 No Change ▼ 0.00 (0%)
FFL 17.75 Decreased By ▼ -0.05 (-0.28%)
FNEL 1.30 No Change ▼ 0.00 (0%)
HUMNL 11.20 Decreased By ▼ -0.04 (-0.36%)
KEL 7.88 Decreased By ▼ -0.09 (-1.13%)
KOSM 5.63 Increased By ▲ 0.19 (3.49%)
MLCF 85.75 Decreased By ▼ -0.26 (-0.3%)
NBP 184.00 Decreased By ▼ -1.00 (-0.54%)
PACE 11.68 Decreased By ▼ -0.34 (-2.83%)
PAEL 40.30 Increased By ▲ 0.09 (0.22%)
PIAHCLA 25.87 Increased By ▲ 0.14 (0.54%)
PIBTL 17.05 Decreased By ▼ -0.27 (-1.56%)
PPL 224.70 Decreased By ▼ -0.60 (-0.27%)
PRL 34.60 Increased By ▲ 0.22 (0.64%)
PTC 64.19 Decreased By ▼ -1.27 (-1.94%)
SEARL 90.40 Decreased By ▼ -0.11 (-0.12%)
SSGC 26.56 Decreased By ▼ -0.20 (-0.75%)
TELE 9.08 Increased By ▲ 0.12 (1.34%)
THCCL 67.23 Decreased By ▼ -2.21 (-3.18%)
TPLP 11.40 Increased By ▲ 0.09 (0.8%)
TREET 24.70 Increased By ▲ 0.15 (0.61%)
TRG 71.14 Decreased By ▼ -0.53 (-0.74%)
WAVES 10.91 Decreased By ▼ -0.54 (-4.72%)
WTL 1.27 Decreased By ▼ -0.01 (-0.78%)

Nigeria was slowly returning to normal on Sunday after labour unions and the government reached an accord ending a four-day general strike that had paralysed Africa's most populous nation. The two labour umbrella organisations the blue-collar Nigeria Labour Congress (NLC) and the white-collar Trade Union Congress (TUC) called off their strike on Saturday.
President Umaru Yar'Adua gave a commitment there would be no further increases in the price of fuel at the pumps for a year. But Yar'Adua maintained petrol prices at 70 naira (55 cents) per litre, that is half of the increase decided by his predecessor Olusegun Obasanjo May 28 just before he handed over the presidency.
The strike caused economic activity - with the notable exception of Nigeria's oil industry - to grind to a halt, with the country losing around 50 billion naira (390 million dollars) each day of the strike, according to the Lagos Chamber of Commerce. Fearing a long-running strike action after both sides dug their heels in on Friday several bodies, including the Association of Nigerian Importers, on Saturday appealed for the strike to be brought to an end. In the administrative capital Abuja some filling stations had started serving customers, putting motorists back on the roads.
The commercial capital Lagos remained at a virtual standstill with drivers complaining gasoline remains unavailable except at inflated black-market prices and many of the city's roads under water after heavy rains. There was no clear victor in the dispute.

Copyright Agence France-Presse, 2007

Comments

Comments are closed for this article.