Nigeria’s aviation sector is facing renewed pressure following a stark warning from Ibom Air, which says it now spends about N7.6 million to fuel a single flight.
In a statement released on Monday, the airline described the surge in aviation fuel costs as unprecedented, revealing that expenses have more than tripled within a short period.
According to the carrier, fueling a flight that cost around N2.1 million in January has now skyrocketed to approximately N7.6 million as of April 27.
The development highlights the growing financial strain on domestic airlines, many of which are grappling with rising operational costs amid a volatile fuel market.
Ibom Air noted that the increase represents over a 350 percent jump in fuel expenses in just seven weeks.
Despite operating one of the most fuel-efficient fleets in the country, the airline expressed concern over the sharp rise in local aviation fuel prices, especially when compared to global trends.
It questioned why costs remain significantly higher in Nigeria, pointing out that the bulk of aviation fuel supply is sourced locally from the Dangote Refinery.
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The airline also disclosed that competitive pressures and a sense of responsibility to passengers have limited its ability to transfer the rising costs to ticket fares.
As a result, operators have been forced to absorb substantial losses.
Ibom Air said it had initially hoped the spike in fuel prices would be temporary, but the crisis has persisted for nearly two months with no signs of easing.
It warned that the current situation is no longer sustainable and may force airlines to scale back operations.
“Airlines globally respond to rising fuel costs by reducing capacity, and we may have to take similar measures,” the company stated, hinting at possible flight reductions in the coming days.
The airline further cautioned that if the trend continues, it could threaten the survival of domestic carriers, urging fuel marketers to review pricing to keep the industry viable.
The latest development adds to concerns about the stability of Nigeria’s aviation industry, as stakeholders continue to call for urgent intervention to prevent widespread disruption of air travel.