Nigeria strike continues......NLC plan to halt protests @ weekend

Nigeria’s biggest labor federations will halt street protests this weekend to give negotiators time to end a dispute over fuel subsidies that has sparked a nationwide strike, the Nigeria Labour Congress said.

The strike will continue, and the main oil workers’ union, Pengassan, said it will meet tomorrow to decide whether to proceed with plans due to start on Jan. 15 to shut down fields operated by companies such as Royal Dutch Shell Plc (RDSA) in Africa’s biggest oil industry.

The general strike entered its fifth day after President Goodluck Jonathan and labor leaders failed yesterday to resolve the dispute over the government’s decision on Jan. 1 to scrap 1.2 trillion naira ($7.4 billion) in fuel subsidies that more than doubled gasoline prices. The action has limited trading in stocks and the national currency, closed ports and banks and sparked street protests.