The Dangote Petroleum Refinery has reduced the price of aviation fuel, also known as Jet A1, from N1,750 to N1,650 per litre, the company said Monday.
The price cut comes amid mounting concerns over rising operating costs in Nigeria’s aviation sector. Domestic airlines had recently warned of possible disruptions to flight operations due to soaring aviation fuel prices.
Following the outbreak of the U.S.-Iran conflict, aviation fuel prices in Nigeria surged sharply. The Airline Operators of Nigeria said the increases were disproportionate to global market trends, noting that prices rose from about N900 per litre before the crisis to between N2,700 and N2,900, while some marketers sold fuel for as much as N3,300 per litre.
In a statement made available to The PUNCH, the refinery said the reduction is part of broader measures aimed at easing financial pressure on airlines and ensuring a stable fuel supply nationwide.
“Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel (Jet A1) to N1,650 per litre from N1,750 per litre in a move aimed at easing cost pressures on airlines and ensuring uninterrupted fuel supply across the country,” the statement said.
The company also announced a 30-day interest-free credit facility for marketers and airline operators backed by bank guarantees, as well as a transition from dollar-denominated pricing to a naira-based model.
Industry stakeholders have repeatedly warned that rising Jet A1 prices were placing severe financial strain on airline operators and threatening the sustainability of flight operations.
The refinery said the latest intervention is expected to lower fuel procurement costs for airlines, improve operational stability and support efforts to moderate airfares.
