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Monday, May 25, 2015

Fuel Crisis Ruins Nigeria’s Economy

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Banks stop operating, flights are cancelled, radio stations stop broadcasting and public services curtailing. Many businesses in Nigeria are heavily dependent on power generators and can’t supply diesel fuel.Guarantee Trust Bank is closing its branches amidst fuel scarcity which causes huge overall negative impact on Nigerian economy. Just as many other businesses in Nigeria it is heavily dependent on power generators and can’t supply diesel fuel for them no further. Nigeria’s economy literally comes to a standstill cause of fuel scarcity.

Following a statement by MTN that it is going to shut down within 24 hours, other major companies in their turn released statements that they’re also heavily affected by fuel scarcity. Flights are cancelled; radio stations stop broadcasting and public services curtailing. Guarantee Trust Bank informed clients that it is not able to supply its branches with diesel fuel needed to power generators.
Muhammadu Buhari’s party accuses outgoing government of fuel scarcity in Nigeria, calling it no less than “sabotage

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