Nigeria’s domestic aviation sector is facing mounting pressure as airlines grapple with a steep rise in aviation fuel costs, a development operators describe as unprecedented.
One carrier, Ibom Air, says the cost of fueling a single flight has surged dramatically from about two point one million naira in January to roughly seven point six million naira as of April 26, marking an increase of more than 350 percent in just a few weeks.
Airlines say the spike is difficult to explain, especially as most aviation fuel is sourced locally from the Dangote Refinery, yet prices remain significantly higher than global averages.
Despite the surge, operators have largely held back from raising ticket fares, citing competitive pressures and a sense of national responsibility.
However, this has forced them to absorb heavy losses, with hopes that the situation would ease quickly now fading after nearly two months of persistent increases.
Industry players warn the current conditions are unsustainable.
They say if the trend continues, airlines may be compelled to cut flight frequencies or reduce capacity in a bid to stay afloat.
There are also growing concerns that prolonged high fuel costs could threaten the viability of airline operations altogether.
Operators are now calling on fuel marketers to urgently review pricing, warning that without intervention, the business of air travel in Nigeria could face serious disruption.
Reporting By Nosa Aituamen