Nigerian Fuel Prices To Be Reduced»

Nigerian President Olusegun Obasanjo tried to calm labor discontent ahead of a planned general strike, saying kerosene prices would be reduced.

Nigerian labor unions have called for an indefinite nationwide strike and demonstrations beginning Tuesday, saying they also plan to block crude exports from the world's seventh largest oil exporter to protest over rising gasoline and kerosene prices. A high court has banned the strike action.

Pump prices rose 23 percent in September, in the latest of a string of price increases triggered by Nigeria's liberalization of fuel prices last year.

Labor unions have protested the increases in prices of petrol and kerosene, a petroleum product used by millions of Nigerians for cooking and oil-lamps.