Dangote refinery reduces aviation fuel price to N1,650 per litre
Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel, also known as Jet A1, from N1,750 to N1,650 per litre as part of measures aimed at easing the financial burden on airlines and stabilising fuel supply nationwide.
In a statement issued on Tuesday, the refinery said the initiative also includes a 30-day interest-free credit facility for marketers and airline operators supported by bank guarantees, alongside a transition from dollar-based pricing to a naira-denominated structure.
According to the company, the interventions are designed to address mounting concerns over the increasing operational costs confronting domestic airlines, with aviation fuel representing one of the industry’s biggest expenses.
The refinery noted that the reduction in Jet A1 prices is expected to lower procurement costs for operators, improve operational efficiency, and contribute to more stable airfares for passengers.
The development follows earlier warnings by the Airline Operators of Nigeria (AON), which threatened to suspend flight operations from April 20 over the soaring cost of aviation fuel.
The operators had stated that Jet A1 prices surged from N900 per litre at the end of February to as high as N3,300 per litre, representing an increase of more than 300 percent.
In response to the crisis, the federal government constituted a technical committee to tackle supply and pricing concerns in the aviation sector.
Among its recommendations was the inclusion of aviation fuel in the naira-for-crude arrangement. The committee also proposed benchmark retail prices ranging from N1,760 to N1,988 per litre in Lagos and between N1,809 and N2,037 per litre in Abuja.
