Dangote Petroleum Refinery & Petrochemicals has announced a reduction in the price of aviation fuel, also known as Jet A1, from ₦1,750 to ₦1,650 per litre.
The company disclosed this in a statement issued by its media team on Tuesday, stating that the move is part of efforts to ease the financial burden on airline operators and ensure steady fuel availability across the country.
According to the refinery, the intervention also includes a 30-day interest-free credit facility for marketers and airline operators backed by bank guarantees, as well as a transition from dollar-based pricing to a naira-denominated model.
The development comes amid growing concerns within the aviation industry over rising operational costs, with aviation fuel remaining one of the biggest expenses for domestic airlines.
Industry stakeholders have repeatedly warned that the continuous increase in Jet A1 prices was putting severe pressure on airline operators and threatening the sustainability of flight operations in Nigeria.
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The refinery said the latest price cut is expected to reduce fuel procurement costs for airlines, improve operational efficiency, and support efforts to moderate airfares for passengers.
“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,” the statement read.
The move has been welcomed by stakeholders in the aviation sector, who believe the reduction could help ease the economic challenges currently facing domestic carriers.