Published On: Sun, Jan 1st, 2012  IMF Forces African Nations to
Remove Fuel Subsidies  January, 1, 2012  Christine Lagarde, IMF
boss {Alt-Market}  NewsRescue- Joining Guinea, Cameroon, Ghana
and Chad, Nigeria on New Years day removed fuel subsidies in
accordance with an order from the IMF (International Monetary
Fund). This created a jump in the price of automobile fuel from
about 65 Naira per liter to 140Naira per liter overnight,
Sunday. This brings fuel/gas prices in Nigeria to about the same
price it is in the US, though lower than many European nations.
Nigerians used to pay about $1.51 / gallon, the European average
is about $5-6.00/gallon, while the US average is $3-3.70/gallon.
While other oil producing nations, like Venezuela, Kuwait and
Saudi Arabia are about $0.12, $0.78 and $0.91 respectively. This
hike in fuel prices was compelled on African Nations by the IMF
due to supposedly rising global oil prices and the Europe
recession.  Trying to invoke an “African Spring?”  The Managing
Director of the