Nigerian President announces govt cuts ahead of national strike over fuel prices

Nigeria's president made a televised address on Saturday night promising some austerity cuts on travel and salaries in the executive branch, as well as new jobs.        

Goodluck Jonathan's speech to the nation on the state-run Nigerian Television Authority comes ahead of a planned nationwide strike over spiraling fuel costs.       

"We must all be prepared to make sacrifices," he said. "We are taking several measures aimed at cutting the size and cost of government, including an ongoing and continuous effort to reduce the size of our recurrent expenditure and increase capital spending."        

Jonathan said overseas travel by political office-holders would be reduced to "the barest minimum" and that only trips that are "absolutely necessary" would be approved.      

Basic salaries of all political office holders in the executive arm of government will be reduced by 25 percent, he announced.    

For decades, Nigerians have expected low petrol prices, one of the few perks seen by residents of an oil-rich nation where corruption siphons billions.     

Now, that long-cherished benefit has ended, more than doubling prices and fueling a planned nationwide strike by angry labor unions.   

APTN