By Ogungbayi Adeyemi S. | adeyemi@ddnewsonline.com
Editor, DDNews |
Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel (Jet A1) from N1,750 to N1,650 per litre in a significant move aimed at easing cost pressures on airlines and stabilising the aviation sector.
In a statement issued on Tuesday, the refinery said the price adjustment is part of broader interventions to support operators struggling with rising operational expenses, where fuel remains a major cost driver.
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The company also introduced a 30-day interest-free credit facility for marketers and airline operators, backed by bank guarantees, alongside a shift from dollar-based pricing to a naira-denominated structure.
“This is in addition to a 30-day interest-free credit facility backed by bank guarantees (BG) for marketers and airline operators and a shift from a dollar-denominated pricing structure to a naira-based model,” the statement reads.
According to the refinery, the measures are designed to improve liquidity within the aviation value chain, ensure a more stable fuel supply, and help moderate airfares, which have remained under pressure due to rising Jet A1 costs.
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Industry operators have repeatedly raised concerns over volatility in aviation fuel pricing, which earlier surged from about N900 per litre to as high as N3,300, prompting warnings of possible flight disruptions.
In response to the crisis, the federal government set up a technical committee, which recommended that aviation fuel be included under the naira-for-crude arrangement and suggested indicative price ranges between N1,760 and N2,037 per litre depending on location.
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The latest price reduction by Dangote Refinery is expected to bring some relief to airlines and passengers amid ongoing economic challenges in the sector.
DDNewsOnline – Lagos
By Ogungbayi Adeyemi S. (Beedee)
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