GT Bank, Beat FM, City FM, MTN, Airtel and Etisalat Shuts Down Over Fuel Wahala.

GT Bank, Beat FM, City FM, MTN, Airtel and Etisalat Shuts Down Over Fuel Wahala.

Nigeria is being crippled by the fuel shortage
that the country has been experiencing for more
than a month.
Nigerian banks have shortened opening times, flights
have been cancelled and phone companies may
restrict services.
The party of President-elect Muhammadu Buhari has
accused the outgoing government of "sabotage" for
failing to deal with the crisis.
The wholesale fuel sellers have been withholding
petrol as they say they are owed $1bn (£625m) by the
government.
The Guarantee Trust Bank says its branches will
close at 12:00 GMT as it struggles to get fuel for its
generators.
The shortening of its opening times is the latest sign
of the impact of the fuel shortage.
Most Nigerian businesses and homes rely on diesel-
powered generators because of the poor electricity
infrastructure.
Africa news updates
'Everything is shutting down in Nigeria'
The shortage means that Africa's biggest economy is
slowly grinding to halt, says the BBC's Will Ross in
Lagos.
Three of the country's mobile phone companies,
MTN, Airtel and Etisalat, have warned that the fuel
scarcity could effect their services as they were
finding it difficult to supply diesel to the base
stations.
Traffic on the roads is also reducing as many fuel
stations have stopped selling petrol and there are
long queues at places where they are selling petrol,
our correspondent says.
Many domestic flights have been cancelled and some
international flights are having to land in
neighbouring countries to refuel.
Radio stations are also restricting their broadcasts
and some have gone off air altogether.
Analysis: Will Ross, BBC News, Lagos:
Homes and businesses rely on jerry cans full of fuel
to power generators
It appears the fuel importers and marketers who
operate a multi-billion dollar scam are blackmailing
the government into agreeing to one more massive
payout as they are not sure how much longer the fuel
subsidy racket will go on.
They are literally shutting down the nation saying
they are owed $1bn in arrears, but no-one gets to see
how that figure is worked out. Many government
officials, including employees of the state fuel
company, are so intertwined in the fraud it is hard to
know who is scamming who.
One thing is clear. Nigerians across the country
trying earn a living to feed their families are facing a
new level of hardship.
The incoming president is inheriting one hell of a
mess.
At the heart of the shortage is a row over the
payment to wholesalers of the difference between
the subsidised pump price and the international
market price.
The wholesalers are waiting for a $1bn payout from
the government before they release more fuel.
It is thought that President-elect Buhari, who takes
power on Friday, may move to end the petrol subsidy
and so the wholesalers are trying to get something
from the outgoing administration.
The opposition All Progressives Congress (APC)
thinks government inaction is deliberate so that Mr
Buhari will take over a "nation in deep crisis".
On Sunday, APC spokesman Alhaji Lai Mohammed
said in a statement that the "departing office holder
[was] defecating on the chair he is vacating".
The People's Democratic Party of outgoing President
Goodluck Jonathan says that it is the opposition
which is behind the crisis "to create an impression
that the APC is inheriting... a complete system
breakdown".
The fuel subsidy has become an enormous scam, our
correspondent says.
The wholesalers often pretend to bring in a lot more
oil than they do and pocket the money they get for
the petrol that is not delivered.


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