Dangote Petroleum Refinery & Petrochemicals has said that it has reduced the price of aviation fuel (Jet A1) to N1,650 per litre from N1,750 per litre.
This is as the refinery explained that the move aimed at easing cost pressures on airlines and ensuring an uninterrupted fuel supply across the country.
This was contained in a statement on Monday by Group Chief Branding and Communications, Dangote Group, Mr Anthony Chiejina.
According to him, 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.
He stated that 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 were 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,” he said.