Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel (Jet A1) from N1,750 to N1,650 per litre in a move aimed at easing financial pressure on airlines and supporting stability in the aviation sector.
Gatekeepers News reports that the company disclosed the development in a statement issued on Tuesday, noting that the price reduction forms part of broader measures designed to assist operators grappling with rising operational costs, particularly the high cost of aviation fuel.
As part of the intervention, the refinery also introduced a 30-day interest-free credit facility for marketers and airline operators, backed by bank guarantees. It further announced a transition from dollar-based pricing to a naira-denominated structure.
“This is in addition to a 30-day interest-free credit facility backed by bank guarantees (BG) for marketers and airline operators and a shift from a dollar-denominated pricing structure to a naira-based model,” the statement read.
According to the company, the new measures are expected to improve liquidity across the aviation value chain, ensure more stable fuel supply, and help moderate airfares, which have remained under pressure due to escalating Jet A1 prices.
Industry stakeholders have repeatedly expressed concerns over fluctuations in aviation fuel prices, which reportedly rose from around N900 per litre to as high as N3,300, triggering fears of possible flight disruptions.
Amid the crisis, the federal government constituted a technical committee that recommended the inclusion of aviation fuel in the naira-for-crude arrangement. The committee also proposed indicative pricing benchmarks ranging from N1,760 to N2,037 per litre, depending on location.
