The Dangote Petroleum Refinery has set the price of aviation fuel (jet fuel) at ₦1,820 per litre at its depot.
The company says this is to make pricing more open and transparent in the market.
This comes as airline operators continue to complain about the high cost of jet fuel, which is affecting the aviation industry in Nigeria.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had earlier suggested that jet fuel should sell between ₦1,760 and ₦1,988 per litre in Lagos, and about ₦2,037 per litre in Abuja, based on market conditions.
However, many oil marketers are still selling the product to airlines at around ₦2,230 per litre or even higher.
Market reports show that airlines are still paying above the government’s suggested price range, despite ongoing discussions between regulators and industry stakeholders.
An expert, Olatide Jeremiah, said there is poor transparency in jet fuel pricing. He urged the Dangote Refinery to publish its daily prices so that middlemen do not inflate costs and make fuel more expensive for airlines.
A spokesperson for United Nigeria Airlines, Chibuike Uloka, said the aviation fuel market is not strictly controlled. He explained that while the regulator gives price guidance, marketers still set their own prices.
He also said the rising cost of fuel is seriously affecting airline operations. For example, fuel costs for some airlines increased from about ₦2.9 million in January to ₦7.6 million per flight operation. For larger aircraft, the cost is even higher.
