(Bloomberg) -- Nigeria, the biggest oil producer in Africa, is plagued by fuel shortages because its domestic refineries perform so badly compared with other nations and it caps domestic prices. Its state-owned oil company is looking for investment in an effort to revive its industry and achieve 90 percent utilization of the plants by 2019 -- exceeding even the U.S. That gives the country a mountain to climb after the monthly rate fell as low as 6.3 percent in September.
--With assistance from Elisha Bala-Gbogbo
To contact the reporter on this story: Paul Burkhardt in Johannesburg at pburkhardt@bloomberg.net.
To contact the editors responsible for this story: James Herron at jherron9@bloomberg.net, Sheldon Reback
©2018 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
