Oil Subsidy: IMF and World Bank feel the heat as Nigerians in US stage “Occupy IMF and World Bank” protest


Youth activists are taking Nigeria’s fuel subsidy protests to the next level showing up at the doorstep of International Monetary Fund, (IMF) and the World Bank, two major Institutions whose conditional requirements for helping many less privileged nations have squeezed Nigeria to the present predicaments.

The New Year subsidy hot potatoe had hit about fine African countries, with Nigeria feeling the heat of its effect more and with her massive population and bad standard of living making her a right target for easy uprising. There have been rising tempers and unending protests across the nation.

The brewing nationwide unrest was predicted last month as it emerged that IMF had enforced its conditions  on five West African nation to remove oil subsidy.

The countries  are Nigeria, Ghana, Cameroun,  Chad and Guinea.

A report on the online international news wire, News Rescue wrote last week: “The Managing Director of the International Monetary Fund (IMF), Christine Lagarde visited Nigeria to meet with the President, Goodluck Johnathan in December 2011 to drive home this directive. This move invites frustration on African nations which comparatively escaped the “Greed” Wall street recession that has been marauding and collapsing European and Middle Eastern economies, with resulting hardship, riots and Government change, including the popular “occupy” riots still plaguing the United States and other European nations, the August 2011 “Robin-hood” riots of the UK,  the collapse of Greece economy, that likewise affected the Middle East with the “Arab Spring” revolutions”.

The newswire reported: “The meeting with Goodluck Johnathan was not just coincidental. Analysts believe it was predetermined. The IMF has been canvassing for the removal of subsidy among African countries”.

The online media hinted late last year  that the pronouncement had seen governments in Nigeria, Guinea, Cameroon, Chad and Ghana moving to cut state subsidies on fuel.

In a move to show Nigeria’s disenchantment over the subsidy removal, various demonstrations have been organised to tell the world that Nigeria has been feeling the heat of the world institutions policies and conditions  the most.

According to a press release issued in Washington DC, United States, demonstrations will hold over the removal of the gas subsidy in Nigeria at the World Bank on Monday, January 9th at 11am to 1pm.

The protest continues at the International Monetary Fund (IMF) on Friday, January 13th at 10am to 2pm in Washington DC.

“Since being elected into office, the current Nigerian Government has been extremely harsh and insensitive towards the basic needs of its citizens. The Government has turned a deaf ear to the cries of Nigerian citizens. The majority of the Nigerian people cannot afford the removal of this gas subsidy and the domino effect of this will cause the price increase on other goods and services,” said Harrison Nwozo, Protest Organizer and Executive Director for TribeX International, one of the leading African focused event producers in the USA.

The organisation said the move was part of  a series of protests that started in Nigeria last Monday, January 2nd in response to the gas subsidy removal by Nigerian President, Goodluck Jonathan on Sunday, January 1st, 2012.

The release also reminded of an indefinite nationwide strike commencing on Monday, January 9th, 2012 to tell the world ho bad things have gone back home in Nigeria.

The Nigeria Labour Congress, organisers of the  indefinite nationwide strike has claimed  the strike will continue unless the decision was rescinded and  the gas subsidy is reinstated.

Protesters in Washington, D.C. are urging the IMF to encourage the reinstatement of the subsidy by changing their tactics as recently, the World Bank and IMF advised African countries to remove all subsidies to reduce their  so called national debts.

“We are conducting this protest in Washington, D.C. because we want to show our solidarity to our Nigerian brothers and sisters back home. The removal of the gas subsidy has not only affected gas prices in Nigeria but has caused a chain reaction on the rest of its economy”, claimed Chika Uwazie, Protest Organiser  and Youth Activist.

A major Protests was held in London last Friday.

“In addition to the reversal of the gas subsidy ban, Nigerians want better infrastructure and the elimination of corruption”, the statement said.

The Picketing

The protest on Monday will begin at 11am with a march at McPherson Square to World Bank Headquarters located at 1818 H Street, NW, Washington, D.C. The demonstration will end at 1pm.

The protest on Friday will begin at 10am at the International Monetary Fund located at 700 19th street NW with a march to the second International Monetary Fund building at 1900 Pennsylvania Ave NW.

Also, local protests are being organized by various groups and organizations including Let There Be Light In Nigeria – Nigerian Million March and African Diaspora Institute.

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