Nigeria Fuel Retailers End Dispute That Caused Shortages
This article is for subscribers only.
Nigerian fuel marketers agreed to resume supplying gasoline and diesel immediately to end the worst shortages in a decade that have grounded airplanes, shut banks and threatened businesses including MTN Group Ltd.
The agreement was announced in a statement issued by Nigeria’s Senate after meeting with Finance Minister Ngozi Okonjo-Iweala and fuel retailers in Abuja, the capital of Africa’s biggest oil producer. Major marketers of gasoline and diesel were holding back supplies because they say they’re still owed 200 billion ($1 billion) in outstanding payments by the outgoing government of President Goodluck Jonathan.