The Dangote Refinery and Petrochemicals has reduced the price of aviation fuel, also known as Jet A1, from N1,750 to N1,650 per litre in a move aimed at easing operational costs for airlines and stabilising fuel supply across the country.
The refinery disclosed this in a statement on Tuesday, noting that the intervention is designed to support domestic carriers facing mounting financial pressure from rising aviation fuel prices.
According to the company, the initiative also includes a 30-day interest-free credit facility for marketers and airline operators backed by bank guarantees, alongside a transition from a dollar-denominated pricing model to a naira-based structure.
The refinery said the measures are expected to lower fuel procurement costs for airline operators, improve operational stability and support efforts to moderate airfares for passengers.
Industry stakeholders have repeatedly expressed concerns over the rising cost of Jet A1, warning that escalating prices were threatening the sustainability of flight operations in Nigeria.
Earlier, the had threatened to suspend operations over soaring aviation fuel prices, stating that the cost of Jet A1 rose from about N900 per litre in February to as high as N3,300 per litre.
The Federal Government subsequently set up a technical committee to address supply and pricing challenges, with recommendations including the inclusion of aviation fuel in the naira-for-crude arrangement.