ANGOLAN President Joao Lourenco has relieved the country’s economic coordination minister, Manuel Nunes Junior, of his duties and appointed the central bank governor, Jose de Lima Massano, as his successor, in the aftermath of violent protests triggered by a fuel subsidy cut. The presidency announced Nunes Junior’s removal in a statement issued on Thursday.
The statement did not provide immediate details about who would assume the role of central bank governor following Massano’s appointment. However, this change in leadership comes as President Lourenco aims to address the fallout from the recent demonstrations.
The fuel subsidy reduction, implemented last week, resulted in a nearly doubling of gasoline prices, with the cost per liter rising to 300 kwanzas ($0.4781) from 160 kwanzas. Despite the increase, the new price remains below the market rate. Manuel Nunes Junior was quoted by local media last week, stating that the subsidy cut was intended to curtail government expenditure.
Nunes Junior has held several prominent government positions over the past two decades in Angola, Africa’s second-largest oil producer, including economy minister and deputy finance minister. His dismissal comes in the wake of protests that erupted following the subsidy reduction. According to police reports on Monday, five individuals lost their lives, and eight others sustained injuries during the demonstrations.
Since securing his second presidential term in August of last year, President Lourenco has remained committed to implementing reforms, including the privatization of poorly-managed state assets and combating corruption. The appointment of a new central bank governor amidst the protests underscores the government’s efforts to address the economic challenges and restore stability in the country.