Incumbent Nigerian President Buhari faces a major fuel crisis as he prepares to take office.
The
companies that import fuel say they haven't been paid by the Nigerian
government. Nigeria is about to install a new president on Friday May 29th,
in March 2015, former military leader Muhammadu Buhari defeated incumbent
Goodluck Jonathan. Buhari’s All Progressives Congress accused outgoing
President Goodluck Jonathan of sabotaging the new administration by creating a
fuel shortage. Major
fuel marketing companies allege they’re still owed $1 billion in outstanding
payments by the outgoing government of President Goodluck Jonathan. Nigeria
does not have the capacity to refine enough of its own oil to meet the needs of
its nearly 150.5 people.“Never in the history of our country has any government handed over to another a more distressed country. No electricity, no fuel, workers are on strike, billions are owed to state and federal workers, $60 billion are owed in national debt, and the economy is virtually grounded,” APC spokesman Lai Mohammed, said in a statement Sunday. “The whole scenario reeks of sabotage.”
Nigeria
is Africa’s second largest economy and one of Africa's largest oil producers
however, Nigeria depends on fuel imports
to meet more than 70 percent of its domestic needs and pays importers to
guarantee cheaper local prices. The fuel crisis in Nigeria has grounded
airplanes, shut down banks and threatens businesses. South Africa-based
multinational mobile telecommunications company, MTN is Africa’s biggest mobile
phone company with 61 million customers in Nigeria. MTN stated its running low
on fuel reserves and its phone network will be significantly degraded if it
doesn’t receive fuel supplies. Fuel in Nigeria is used not just to run cars and
transport for goods and services, but also to power generators for homes and
businesses; most Nigerians get only a few hours of electricity a day. Nigerians
are no strangers to fuel shortages; the country went through similar fuel
shortages in 2012.
