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Nigeria Fuel Shortages Ground Planes, Threaten MTN, Banks

A man carries fuel in jerry cans to avoid long queues at a filling station in Lagos. Photographer: Pius Utomi Ekpei/AFP/Getty Images

A man carries fuel in jerry cans to avoid long queues at a filling station in Lagos. Photographer: Pius Utomi Ekpei/AFP/Getty Images

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A fuel crisis in Nigeria has grounded airplanes, shut banks and threatens businesses including MTN Group Ltd.’s local operation, as gasoline and diesel retailers halt distribution over a pay dispute with the government.

MTN, Africa’s biggest mobile phone company with 61 million customers in Nigeria, said in a statement it’s running low on fuel reserves and its phone network will be “significantly degraded” if it doesn’t receive supplies before Tuesday. Guaranty Trust Bank Plc, Nigeria’s biggest lender, will close its offices at 1 p.m. local time from Monday because of the shortages, while Arik Air Ltd., the country’s biggest carrier, has cut two-thirds of its 120 daily flights.