Dangote Petroleum Refinery & Petrochemicals 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 the financial burden on airlines and ensuring steady fuel supply across the country.
In a statement released on Tuesday by the refinery’s media team, the company said the price reduction forms part of broader measures introduced to support airline operators and fuel marketers amid rising operational costs in the aviation sector.
The refinery also announced a 30-day interest-free credit facility for marketers and airline operators, backed by bank guarantees. In addition, it disclosed a transition from a dollar-denominated pricing structure to a naira-based pricing model.
The interventions come at a time when domestic airlines are grappling with soaring operating expenses, with aviation fuel accounting for a major share of flight costs.
Industry stakeholders have repeatedly warned that the continuous rise in Jet A1 prices was placing heavy financial pressure on operators and threatening the sustainability of airline operations across the country.
According to the statement, the latest reduction is expected to lower fuel procurement costs for airlines, improve operational stability, and support efforts to moderate airfares for passengers.
The development is likely to bring relief to domestic carriers that have struggled with fluctuating fuel prices and foreign exchange challenges in recent months.
