Nigerian fuel crisis crippling business & banks

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.

To know more, visit the source site. Continue reading there after the first seven lines. Click on.. HERE.

Source Credits: BBC

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