After standing his ground for close to two weeks on the removal of fuel subsidy, President Goodluck Jonathan moments ago refused to reverse the highly unpopular policy of fuel price increase.
Jonathan administration announced the removal of fuel subsidy January 1st 2012.
But meeting with labour leaders tonight ended in stalemate. The administration hopes to engage in a new round of negotiations beginning Saturday.
Jonathan reportedly refused to back down from N120 as the last minimum acceptable price for petrol. Labour leaders had arrived the meeting proposing a reversal to N65 price and also asking that the federal government engage in serious dialogue with the Nigerian people to begin a phased withdrawal of fuel subsidy starting from April 2012.
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