Asharami Synergy Limited, a downstream business of the Sahara Group, claims that stability in Nigeria’s foreign exchange market might have a major positive impact on the aviation sector by lowering the price of jet fuel.
Speaking at the recent International Air Transport Association’s Aviation Energy Forum in Vienna, Austria, was Foluso Sobanjo, head of downstream Africa for Sahara Group. He emphasized that one of the main drivers of growth in Nigeria’s aviation fuel industry is forex stability.
Speaking about the growth determinants for the Nigerian market, Sobanjo stated that the development of infrastructure, stable exchange rates, affordable funding sources, and sufficient refining capacity would all be beneficial to the aviation fuel industry.
According to him, “reducing product costs, resolving airline liquidity problems, and assisting in the repatriation of foreign airline investments would all positively impact the jet fuel market and encourage further investments.”
In his view, suppliers must be able to obtain financing at competitive rates to finance investments in trucks, tank farms, and other necessary infrastructure.
He said, “This would improve logistical efficiency and operational capabilities, supporting long-term growth and healthy competitiveness in the sector.”
To promote sustainable regulation, growth, and development of the industry, Sobanjo also called for collaboration among all stakeholders, including IATA, airlines, the Federal Airport Authority of Nigeria, and petroleum marketers, as well as investment in infrastructure through various Public-Private Partnerships.
Although Sobanjo acknowledged that Asharami’s remarkable achievement in the aviation fuel market could be attributed to the company’s dedication to environmental sustainability, technological innovation, and safety, he also pointed out that the company has a two-decade history of outstanding performance in the Nigerian industry.
“Asharami Synergy is Nigeria’s top aviation fuel provider, with more than 20% of the market share. The International Organisation for Standardisation has awarded us multiple certifications to demonstrate our dedication to excellence, quality, and safety. With 20 bowsers in our fleet, a current storage capacity of over 31 million litres that Asharami owns and operates across the country, and continuous plans for capacity development, we remain innovating to deliver exceptional Jet A1 solutions,” he revealed.
Asharami Synergy provides solutions that mesh well with the operations of Nigeria’s domestic and international airlines, Sobanjo added.
He stated, “Asharami is the responsible provider of choice for aviation fuel in the Nigerian market because of our distinctive mark of excellence and safety.”
Asharami Synergy’s CEO, Nomnso Dike, also made a speech in Vienna during which he stated that the company has been a strategic partner with IATA since 2009. He also mentioned how the company’s varied product supply chain makes products available and competitively priced in the market.
“We are continuously investing in technology to improve our business’s efficiency, which is why we adopted the solution that lowers CO2 emissions while boosting efficiency through digitalized tracking of our in-flight fueling operations.”
“In addition, our dashboard monitors and evaluates the consumption habits of our clients, which helps us to precisely predict demand and guarantee steady product availability to fulfil all of our supply commitments. This guarantees that our clients may depend on Asharami for a flawless and responsible supply,” he concluded.
