We were very touched when @Neil Watson at NorthStandard shared with us the following extract from the Standard Club’s first ever printed list of Correspondents which...
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Nigeria: Strike has Closed Ports
Budd Nigeria advises that commercial activity in all Nigeria’s ports has ground to a halt due to a general strike.
Unions are demanding pay increases to compensate for inflation caused by a dramatic depreciation in the national currency (naira) and the withdrawl of a fuel subsidy. Inflation is currently at about 34%. Since wages have not risen at the same pace, those on lower incomes are finding it difficult to buy food.
The strike has resulted in power cuts, the closure of both businesses and public facilities such as hospitals in schools. Many flights at Abuja and Lagos airports have been cancelled.
We understand that negotiations with the government are underway.
Information provided by Budd Nigeria (budd.nigeria@budd-pni.com)