Business News
Dangote Refinery cuts jet fuel price to N1,650 per litre
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 price adjustment was disclosed in a statement issued to Very Nigerian on Monday.
The refinery also introduced a 30-day interest-free credit facility backed by bank guarantees for marketers and airline operators.
In addition, the company announced a shift from a dollar-denominated pricing structure to a naira-based model, a move expected to reduce foreign exchange pressure and improve access to aviation fuel in Nigeria.
These interventions come amid growing concerns over the rising operational costs faced by domestic carriers, with aviation fuel accounting for a significant portion of airline expenses. Industry stakeholders have repeatedly warned that escalating Jet A1 prices are placing severe financial strain on operators and threatening the sustainability of flight operations.
The refinery’s decision is expected to provide relief to airline operators by lowering fuel procurement costs, improving operational stability, and supporting efforts to moderate airfares.
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