Nigeria’s aviation industry may soon see some relief in the cost of jet fuel, following high-level talks between government agencies, airlines and fuel marketers.
The meeting, convened by the Ministry of Aviation and Airspace Management earlier this week, brought together key stakeholders including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, aviation regulators, and operators to address persistent concerns over supply disruptions and soaring prices.
The executive summary and recommendations made available to the media, at the heart of the discussions was the sharp volatility in aviation fuel costs, driven largely by global market pressures and geopolitical tensions, particularly the ongoing conflict between the United States and Iran.
After further technical deliberations, regulators say the current indicative price of aviation fuel should range between about one thousand seven hundred and sixty naira to just under two thousand naira per litre in Lagos, and slightly higher in Abuja.
Authorities, however, warn that actual prices may fluctuate depending on when products are sourced, citing instability in international benchmarks and varying operational costs.
To stabilise the market, the regulator is pushing for a more direct supply chain, urging marketers to sell straight to airlines, while also reviewing pricing components linked to international indices.
There are also plans to streamline the number of fuel distributors operating within airport environments, ensuring only those with adequate infrastructure remain active.
In addition, government is moving to resolve lingering debts between airlines and fuel suppliers, with proposals on the table for a 30-day credit window to ease immediate financial pressure on operators.
In a broader move aimed at cushioning the sector from foreign exchange shocks, aviation fuel is also being considered for inclusion under the Federal Government’s naira-for-crude initiative.
Industry watchers say the outcome of these measures could play a crucial role in easing operational costs for airlines and stabilizing Nigeria’s domestic aviation sector in the weeks ahead.
Reporting By Nosa Aituamen