Dangote Refinery reduces the price of jet fuel to N1,650 per litre

Dangote Oil Refinery has reduced the price of aviation fuel, also known as Jet A1, from N1,750 to N1,650 per litre.

The company said the move aims to reduce the financial burden on airline operators and ensure a constant supply of fuel across the country.

The development was announced in a statement released on Tuesday in Lagos by company spokesperson, Anthony Chiejina.

According to him, the refinery has also introduced a 30-day interest-free credit line for marketers and airline operators, backed by bank guarantees.

He added that the company has also changed its pricing structure from dollar-based transactions to payments in Naira, a move that is expected to ease pressure on local operators.

Chiejina said the reduction was necessary due to growing concerns over rising operating costs in the Nigerian aviation sector.

According to him, aviation fuel represents a major part of airlines’ expenses.

He said: “Industry stakeholders have repeatedly warned that the rising cost of Jet A1 fuel is placing severe financial pressure on domestic airlines and threatening the smooth operation of flights.

“The refinery’s latest decision is expected to provide relief to airline operators by reducing fuel costs, improving operational stability and supporting efforts to reduce airfares for passengers.”