Jet fuel shortages hit Nigerian airlines

Several Nigerian airlines have cancelled and delayed domestic flights this week as yet another shortage — this time, of jet fuel — grips Africa’s biggest economy. Just days after the govt boosted petrol prices at gas stations by 67% to ease a fuel crisis that has plagued Nigeria since March, a shortage of aviation fuel hit the country. The oil-producing country has to import nearly all the fuel it consumes because of its rundown refineries. The delays have affected at least 4 of the country’s biggest domestic carriers. At the heart of the shortages, economists say, is a scarcity of another key commodity: dollars. Since oil prices began tumbling in 2014, fewer dollars have been flowing into Nigeria. State revenue has plummeted and foreign reserves have fallen by nearly US$3b in the past year. <br/>