Energy Markets
In deluge of demonstrations, fuel subsidies prove difficult to eliminate
Like thousands of Nigerians and countless others across the establishing world, higher fuel costs have annoyed Antonia Arosanwo. I am upset, the 46-year-old mom of 5 stated at a bus drop in Lagos, the bristling commercial capital of Africa's most populous country. Her journey from Ojuelegba, a bustling residential area simply 8 miles north of Lagos's business district, has actually more than doubled in rate to 700 naira (45 U.S. cents) given that the federal government announced an end to fuel subsidies last year - allowing petrol rates to triple. Arosanwo's anger mirrored that of thousands of other Nigerians, whose...