Two of Nigeria’s biggest airline operators, Arik and Aero airlines have suspended up to 80% of flights due to lack of fuel.
The aviation sector has been making consistent losses since the onset of fuel shortage.
It has also earned itself a bad reputation over flight cancellation. The fuel crisis is a result of a stalemate between Federal government and importers over payment of fuel subsidies claims.
Domestic flights have been worst hit. International flights out of Nigerian are drawing fuel from neighbouring countries to complete their journeys.
Nigeria produces more than 2 million barrels of petroleum a day but imports refined fuel because it does not have enough functioning refineries.
Elsewhere one of the countries big bank is reducing it’s working hours due to the oil shortage. According to BBC , Guarantee Trust Bank says its branches will close at 12:00 GMT as it struggles to get fuel for its generators.
Nigeria’s opposition on Sunday accused outgoing President Goodluck Jonathan of leaving a country in crisis, as fuel shortages brought the nation to a standstill just days from Muhammadu Buhari’s inauguration.
Buhari’s All Progressives Congress (APC) highlighted record lows in electricity production, multiple strikes and billions of dollars in unpaid debts, suggesting Jonathan’s government was deliberately leaving the country in a mess.
Buhari won Nigeria’s first-ever opposition victory in March 28 elections and is set to take over as head of state of Africa’s most populous nation, leading economy and top oil producer this Friday.
But as he does so, a weeks-long crisis over controversial fuel subsidies has left homes without electricity, cars without petrol and businesses virtually ground to a halt.
