Nigeria's Fuel Crisis: Oil Marketers Finally Reached an Agreement With The Government

Nigeria's major fuel marketers and wholesalers agreed on Monday to put an end to the crippling fuel strikes that had recently shut down the nation's economy.

The recent announcement and confirmation was made after a meeting involving the Nigerian Senate,Nigeria's Finance Minister and the main Union and groups responsible for the distribution of fuel and diesel within the country. " We have agreed to commence lifting of products from all available depots within the next six hours " said Babafemi Olawore Executive Director of the Major Oil Marketers Association of Nigeria.

The wholesalers had stopped distributing fuel after alleging the government owed them $1bn (£625m).

The situation in the country seems worsened as major communication service providers, MTN, AIRTEL, ETISALAT, GLO are on the verge of shutting down operations coupled with revised operating and closing hours by banks as most money deposit banks now close operation by 1pm being the peek of their normal businesses. Most airlines has canceled scheduled flights while most international flights had resolved into emergency landing in neighboring countries to refuel.  Also individual businesses were brought to an halt as a litre of Fuel now sell for as much as N250 to N300 (depending on the location) being on the high side by the common man to afford.

Nonetheless as negotiations continue between the outgoing government and the major petroleum marketers, the incoming government had long accused the Goodluck Jonathan's administration that is due to be handed over on Friday of feeling unconcerned and unable to resolve pending issues before proper handing over.

As Nigerians await the swearing in of the Muhammadu Buharis administration come May 29 2015 all hopes remains that the CHANGE that was voted in would yield swift results.