The refinery supplies over 90 percent of Nigeria’s aviation fuel needs. Before the Iran crisis, the price of Jet A-1 was about N900 per litre. Currently, prices range from N2,700 to N2,900 per litre.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) recommended that aviation fuel prices should be between N1,760 and N1,988 per litre in Lagos. However, actual market prices may fluctuate due to external factors.

In a recent statement, an unnamed source confirmed the price: “Yes, as of today, Sunday, our jet fuel is N1,820 a litre. Note that this price is not stable.” The price of Jet A-1 has risen significantly from about N900 per litre as of February 28 to N3,300 per litre today.

Additionally, Dangote has commenced direct Jet A-1 supply to Ethiopian Airlines. The company plans to publish aviation fuel prices daily for transparency.

Abimbola Olashore of the Airline Operators of Nigeria stated, “We don’t want the airline industry to go under. So, we must find ways.” Meanwhile, George Ene-Ita noted that Dangote’s pricing strategy aims to ease overhead cost pressures in the aviation sector.

Market volatility has been exacerbated by geopolitical tensions affecting oil prices. The ongoing situation has led to fluctuations in fuel costs that impact Nigerian airlines significantly.

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