Dangote Petroleum Refinery has reduced the price of aviation fuel from N1,750 to N1,650 per liter in a move expected to ease financial pressure on Nigerian airlines and improve fuel availability across the country.
The most recent modification comes as local airlines struggle with rising operating expenses; aviation fuel remains among the highest costs in the industry. Industry insiders have repeatedly cautioned that excessive Jet A1 prices were endangering the viability of airline operations and driving up passenger airfares.
The News Chronicle reports that with the backing of the bank, the refinery also implemented a 30-day interest-free credit program for fuel distributors and airline operators. In yet another significant change, the business switched from dollar-based pricing to a naira payment system, a decision experts think will lessen the strain related to swings in the foreign exchange rate.
According to experts, the decline might assist airlines in reducing their fuel acquisition expenses, increasing operational stability, and promoting more efficient flight operations all around the nation. The intervention is also expected to strengthen confidence within Nigeria’s aviation industry at a time when operators are seeking relief from inflation, rising maintenance costs, and forex challenges.
Many observers believe the refinery’s latest move could reshape fuel supply dynamics in the aviation sector if the price stability is sustained over time.
