Fuel crisis cripples Nigerian economy

The main unions and industrial groups responsible for supplying and distributing the majority of petrol and diesel in Nigeria have met the government for talks over the country’s fuel crisis. The crippling fuel crisis had left the country at a virtual standstill just days before a new government is installed.
Banks had begun to close early and telecoms firms warned their mobile phone networks could be shut down because of fuel shortages, which left domestic airlines, grounded and saw petrol stations run dry, hitting businesses and homes.
The executive secretary of the Major Oil Marketers Association of Nigeria, Babafemi Olawore, said: “We have agreed to commence lifting of products from all available depots within the next six hours.” The National Association of Road Transport Owners “fully endorsed” the statement.
It was not immediately clear what, if any, specific deal was offered to help end the stalemate.
Despite being Africa’s biggest oil producer, pumping out about 2-million barrels of crude per day, Nigeria has to import most of its fuel because of a lack of functioning refineries. – News24