…Introduces Credit Facility for Operators
Dangote Petroleum Refinery has reduced the price of aviation fuel, also known as Jet A1, from N1,750 to N1,650 per litre in a move aimed at easing cost pressures on airline operators and stabilising fuel supply across Nigeria.
The development was disclosed in a statement on Tuesday in Lagos by the company’s spokesperson, Mr. Anthony Chiejina.
According to him, the price adjustment is part of the refinery’s broader effort to reduce the financial burden on the aviation sector, where fuel costs account for a significant portion of airline operating expenses.
Chiejina also announced the introduction of a 30-day interest-free credit facility for marketers and airline operators, backed by bank guarantees, describing it as a measure designed to improve liquidity and operational efficiency in the sector.
He added that the refinery has also shifted from dollar-based transactions to payments in Naira, a policy move expected to ease foreign exchange pressures on local operators.
He explained that the decision to lower the price was influenced by growing concerns over rising operational costs affecting Nigeria’s aviation industry.
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“Industry stakeholders have repeatedly warned that the increasing cost of Jet A1 fuel was putting serious financial pressure on domestic airlines and threatening smooth flight operations,” he said.
Chiejina noted that aviation fuel remains a major cost driver for airlines, adding that the new pricing structure is expected to provide relief, enhance operational stability, and support efforts to reduce airfares for passengers.
