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Tens of thousands of Nigerians took to the streets to protest after the price of gas rose dramatically following the elimination of a fuel subsidy on Jan. 1.
Nigeria's unions have ended a general strike and mass protests over fuel prices after President Goodluck Jonathan agreed to cut the cost of gas.
On Monday, following a week of nationwide protests, the Nigerian president said he would restore part of a fuel subsidy, the BBC reported.
The price of gas skyrocketed from 65 naira ($0.40) a liter to 140 naira after the subsidy was removed on Jan. 1.
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In a televised address to the nation, Jonathan said his government had approved the gas price to be reduced to 97 naira (about $0.60) a liter, "given the hardships being suffered by Nigerians."
Jonathan said the government would "continue to pursue full deregulation of Nigeria's downstream petroleum sector," the BBC reported.
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Nigeria's main unions had suspended strikes and protests for the weekend, to allow more talks between union leaders and government, after five days during which tens of thousands of Nigerians took to the streets to demonstrate in Africa's largest oil producer and most populous nation.
While protests were mostly peaceful, at least three people were shot dead in clashes with police.
Oil workers had threatened to cut oil output starting Sunday if the government did not reinstate the subsidy, Reuters reported.
The threat of a cut in oil output, which provides the government with 80 percent of its revenues, was a key factor in negotiations, according to reports.
President Jonathan's government is also dealing with a string of deadly attacks blamed on the Islamist militant group Boko Haram.
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Here's a video on the latest reaction of Nigerian citizens: