Relief for airlines as Dangote Refinery cuts jet fuel price to N1,650

Date:

Share post:

Dangote Petroleum Refinery has reduced aviation fuel (Jet A1) price to N1,650 per litre, a move aimed at easing pressure on airlines and stabilising fuel supply across Nigeria.

The refinery also introduced credit support and pricing reforms as airlines struggle with rising operational costs linked to fuel expenses.

Dangote Slashes Jet Fuel Price

Dangote Petroleum Refinery & Petrochemicals has cut the price of Jet A1 from N1,750 to N1,650 per litre.

However, the company said the decision targets rising pressure on airline operators who face high fuel-driven costs. Aviation fuel remains one of the biggest cost components for domestic carriers in Nigeria.

Furthermore, Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, confirmed the adjustment in a statement on Monday.

Credit Facility and Pricing Shift Introduced

Meanwhile, the refinery also introduced a 30-day interest-free credit facility for marketers and airline operators. Banks will back the facility with guarantees.

In addition, Dangote shifted pricing from a dollar-based structure to a naira-based model. The company said this step will reduce foreign exchange exposure for operators.

Consequently, the reforms aim to improve access to fuel and reduce financial strain across the aviation sector.

Airlines Face Rising Operational Pressure

However, airline operators have continued to raise concerns over high Jet A1 prices. They say fuel costs now place heavy pressure on flight operations and business survival.

Furthermore, industry stakeholders warn that sustained price increases could affect flight schedules and airline stability.

Expected Impact on Air Travel Costs

Meanwhile, Dangote Refinery said the price cut will help reduce fuel procurement costs for airlines.

Consequently, it expects improved operational stability and potential moderation in airfares. The company said the intervention supports smoother aviation operations nationwide.

External Links

spot_img

Related articles

How Troops Rescued NECO Candidates From Bandits In Borno

Troops of Operation Hadin Kai (OPHK) have rescued 10 National Examinations Council (NECO) candidates and teachers abducted during a...

Why Ebonyi Transport Unions Endorse Nwifuru For Second Tenure

Transport unions in Ebonyi have unanimously endorsed Governor Francis Nwifuru for a second tenure in office due to...

Radiant diGiLog Rolls Out AI Platform to Boost Global Workforce Productivity

An indigenous firm, Radiant diGiLog, has unveiled an all-in-one workforce management and productivity platform for tracking attendance, shifts,...

Students Writing External Exams In Borno Abducted By Gunmen

Gunmen suspected to be Boko Haram and ISWAP fighters on Monday attacked Government Day Secondary School, Lassa, in...