Nigeria FUEL CRISIS: Airports, TV Stations, And Hospitals Shut Down As Economy Slides Toward Recessi - Polidicks

[url]http://saharareporters.com/2015/05/25/fuel-crisis-airports-tv-stations-and-hospitals-shut-down-economy-slides-toward-recession[/url] [t]http://www.thenational.ae/storyimage/AB/20150525/STORYGALLERY/150529377/EP/1/1/EP-150529377.jpg&MaxW=960&imageVersion=default[/t] [t]http://www.abc.net.au/news/linkableblob/3767622/data/demonstrators-in-abuja2c-sit-on-cars-with-sticks-and-27weapon-data.jpg[/t] [t]http://static1.businessinsider.com/image/556253226bb3f7181567249b-1200-924/lagos-nigeria-traffic-jam-2.jpg[/t] [QUOTE]The dwindling economic situation in Nigeria has led to mop up of money in circulation, reducing people’s purchasing power in an economy over-reliant on imported goods. Arik Air and Aero Contractors grounded all their planes because they could not obtain JetA1 fuel, the fuel needed for commercial jets to fly. Virgin Atlantic was also forced to buy its fuel in Accra, Ghana according to reports. Mr. Simon Tumba, spokesman for Aero Contractors, told the media that, “Due to the general scarcity of aviation fuel (JetA1) in the country, the airline (Aero) will not be able to operate over 80 per cent of her domestic flights as scheduled.” [B] The shortage of diesel fuel has even shut down radio and television stations.[/B] BEAT FM Lagos and CITY FM announced that their 24 hour operations would be halted as a result of the diesel gasoline shortage. Many television stations announced they have been forced to take similar precautions and have yanked many programs from the television line up. The fuel crisis has grown so potent that it may force MTN and Airtel to close down some of their services because of the amount of fuel needed for base stations throughout the country. The official MTN Twitter account for Nigeria told the public yesterday that, "[B]If diesel supplies are not received within the next 24 hours the network will be seriously degraded and customers will feel the impact.[/B]" [B] Telecommunications companies have experienced a decline in calling and data plan subscriptions, which has been directly tied to the price of fuel, conserving mobile battery life, and generator use.[/B] [B] Hospitals have been struggling to cope with the price of diesel to power their generators[/B], resulting in many patients asked to leave in order to save resources for patients with critical conditions. As filling stations sell fuel at prices far beyond the reach of the common man, for 250-400 naira per liter in the formal market, or 450-500 naira on black markets; the Nigerian government and authorities have turned their backs on the crisis. [B] To make matters worse, the power supply dropped by nearly 1,000 megawatts last week[/B], meaning that the country currently generates around 2,500 megawatts of power.[/QUOTE] This sounds like the end of the world

Shit, this is why you don't build all your infrastructure on diesel generators. Still its probably the only way half this stuff would have been built [editline]26th May 2015[/editline] Someone get some renewables in there

Here's some background info on this: [QUOTE]"The whole scenario reeks of sabotage," spokesman Lai Mohammed said in a statement. "Never in the history of our country has any government handed over to another a more distressed country: No electricity, no fuel, workers are on strike, billions are owed to state and federal workers, 60 billion dollars are owed in national debt and the economy is virtually grounded." The crisis began when oil suppliers, hit by tightened credit lines and unpaid interest, said the government owes them as much as $1 billion for fuel and subsidies going back to October 2014. They said they could no longer afford to supply fuel. Oil tanker drivers unpaid by the suppliers started striking last week and were joined Thursday by other oil workers. The government, reeling from halved international prices for petroleum that provides more than 80 percent of its revenue, is so cash-strapped it is borrowing to pay salaries, the finance minister said earlier this month. Nigeria produces more than 2 billion barrels of petroleum a day, [B]but imports almost all refined fuel because its refineries aren't maintained.[/B] [/QUOTE]

[QUOTE=godfatherk;47807569]The government, reeling from halved international prices for petroleum that provides more than 80 percent of its revenue, is so cash-strapped it is borrowing to pay salaries, the finance minister said earlier this month. Nigeria produces more than 2 billion barrels of petroleum a day, [B]but imports almost all refined fuel because its refineries aren't maintained.[/B][/QUOTE] Stuff like this is why they're still considered a failed state despite technically being the #1 economy in Africa.

One in five Africans are Nigerian, 183 million people, roughly 2.5% of the worlds population, i think this might give you guys a bit of perspective on how fucked up this is.

[QUOTE=The Aussie;47807909]One in five Africans are Nigerian, 183 million people, roughly 2.5% of the worlds population, i think this might give you guys a bit of perspective on how fucked up this is.[/QUOTE] Wasn't their population something like 60 million thirty years ago?

If only somebody would give their prince the money he needs...

[QUOTE=Nikota;47807923]Wasn't their population something like 60 million thirty years ago?[/QUOTE] In 1950 it was 30mil. It reached 60mil in '75. It will be 207million by 2020, and 400million by 2050. And Nigeria's [URL="http://mapfrappe.com/?show=30655"] size[/URL] is ~ England+France+Benelux+Germany.

[QUOTE=godfatherk;47809336]In 1950 it was 30mil. It reached 60mil in '75. It will be 207million by 2020, and 400million by 2050.[/QUOTE] Africa's gonna run into a Malthusian catastrophe.

[QUOTE=Nikota;47809358]Africa's gonna run into a Malthusian catastrophe.[/QUOTE] Not because of the population numbers(wich aren't that big, considering how large the continent is; but because of the lack of development. But even that can be shifted. China did it in ~30years, South Korea, Japan, West Europe all did that too, after WW2 or Korean war in S. Korea's case. It can be done. But things like the fact that[URL="http://hdr.undp.org/en/content/mean-years-schooling-adults-years"] Nigerian adults only recieve schooling in a mean of 5 year period[/URL] are slowing advancement. But then it gets much worse with Burkina Faso, Chad, Guinea, Niger, etc. at ~1, and a lot of African countries being on the 3-5 verge. North African countries are no special either, Morocco is at 4.4, Egypt at 6.4. South Africa is at 10, so there's that. But still, the quality has to be improved aswell, not just the time being spent in schools is important. And then, if you look into other sectors like roads, electricity, law&governance, housing, water&sewage, internet, transport, agriculture, it gets much worse...

You'd think they'd have enough money to import fuel, given all the Nigerian princes with huge sums of money unable to move that money out of the country.