Nigeria: Foreign flights forced to refuel elsewhere

Foreign airlines flying to Nigeria have started to refuel abroad to bypass pricey, and increasingly scarce, jet fuel as the oil producer battles a hard currency shortage that has made fuel available only at a very high price. It is the second blow for airlines operating in Africa's recession-hit biggest economy in a year that first saw the central bank make it almost impossible to repatriate profits from ticket sales as it tried to prevent a currency collapse. The crash in the naira since a devaluation in June has led firms who market jet fuel locally, such as Total, Sahara and ConocoPhillips, to double the price to 220 naira a litre in August, and to as much as 400 naira this month, an airline executive said. Even at the higher costs, marketers' lack of dollars has made fuel scarce. Some carriers have had aircraft stuck, or were forced to cancel planned journeys, after frantic last-minute calls from ground staff warned there was no fuel available. "The economy is crying out for investment, and now it is going to be even harder for anyone to visit," said John Ashbourne, economist with Capital Economics. "Who is going to want to park a billion dollars in a country that you can't even easily fly to? It sends the worst possible signal."<br/>