The last one week was very turbulent in Nigeria. The huge West African country with vast

Igho Akeregha, Editor

natural resources and massive oil deposit accounting for sixth of global oil supply was embroiled in street protests against the federal government’s withdrawal of petrol subsidy fund. The administration of President Goodluck Jonathan argues that the N1.3 trillion it spent as petrol subsidy in the 2011 budget had become unsustainable if the administration is to provide badly needed infrastructure.
But the Nigeria Labour Congress, NLC, the Trade Union Congress, TUC and Civil Society allies are unimpressed with government’s promises and shut down all economic and business activities in the country. The widespread protests, cutting across the 36 states of Nigeria including the Federal Capital Territory is the biggest in the history of the country.
The strike was called by the Labour Unions on January 2, 2012, a day after the New Year when government announced it had stopped funding fuel subsidy beginning from January 1, 2012. Since the strike, government had held at least four truce meetings that were mostly deadlocked. On Thursday January 12, 2012, Labour and its allies held two meetings. First, the Unions met David Mark, Nigeria’s Senate President who maintained a mediatory role in the crisis and brokered further talks with the Federal Government. The second meeting with the unions was led by President Jonathan. There was enormous hope that the outcome of the meeting will halt the protests. But it turned out inconclusive with both sides saying that major steps had been taken to resolve their differences.
As the magazine went to bed on Friday January 13, 2012, government and the Unions had agreed to hold yet another meeting on Saturday as many Nigerians hope it would break the deadlock. But before then, the Unions say, the strike and protests will continue.
The country-wide protests is a major lead story this week titled: “Deregulation: Mass Anger”. As the protests rage, our team of Editors uncovered one major factor that has accentuated the rot and corruption in fuel imports. It is the activities of a formidable cabal in the oil sector that is holding the country at the Jugular. It is our main cover for the week titled “Workings of a Cabal”. There are many more stories you will find interesting as we hope the country can be saved the pains and pangs of the protests with a cessation of hostilities this week.