Foreign airlines struggle to refuel in Nigeria amid huge price hike
LAGOS/ABUJA — Foreign airlines flying to Nigeria have started to refuel abroad to bypass pricey, and increasingly scarce, aircraft 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 the recession-hit 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 had led firms that market jet fuel locally, such as Total, Sahara and ConocoPhillips, to double the price to 220 naira (69 US cents) a litre in August, and to as much as 400 naira in September, 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 journeys, after frantic last-minute calls from ground staff warned there was no fuel available."The economy is cryi...
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