Protest is definitely gathering momentum  - Some us of monitoring the financial aspect.   

1 Interbank lending is almost down - but not completly down
2 Stock exchange 30% trading
3 - Shut down of oil wells  will be icing on the cake.  (  The game changer -  the Dumb and deaf government  - will recieve an earing and seeing miracle)


Nigeria's main oil union said Tuesday a nationwide strike on scrapping fuel subsidies will disrupt oil output and exports in Africa's biggest producer if the government fails to open dialogue on restoring the fuel subsidy.
Pengassan's secretary general Bayo Olowsihile said workers have already failed to show up at offices of several oil companies and that his union was in talks with its blue-collar counterpart Nupeng on "bringing down the platforms and production levels."

"We had hoped the government would bow down but that does not seem to be its line of action," Olowshile said.

A spokesman for Shell said the strike has had no impact on its operations so far but said the company was monitoring the situation.

Nigeria Labor Congress deputy president Promise Adewusi earlier Tuesday said parts of the oil sector could be shut down if the strike con[b]tinues.

"The process to shut down the upstream sector began yesterday [Monday] and by today [Tuesday] we may complete the shut down," he said.[/b]

State-owned Nigerian National Petroleum Corporation's spokesman Levi Ajuonuma was unable to confirm reports that loadings at some ports have been affected. "There has been no impact on oil production for now," he said.

Abuja-based Ajuonuma said oil minister Diezani Alison-Madueke had today held several meetings with industry stakeholders to discuss the crisis.

Nigeria's government announced January 1 that subsidies on imports of petroleum products would end immediately, more than doubling the price of gasoline to about Naira 150 ($0.93) a liter.

The government estimates it will save $6 billion this year by eliminating the subsidy and said the money will be invested in education and infrastructure.

Economic activities in most parts of the country were paralyzed Monday as the majority of banks and filling stations did not open for business.

http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8780095

Way to go boys! Good 1