Dangote Petroleum Refinery has reduced the price of aviation fuel, also known as Jet A1, from N1,750 to N1,650 per litre.

The company said the move is aimed at reducing the financial burden on airline operators and ensuring steady fuel supply across the country.

The development was announced in a statement issued on Tuesday in Lagos by the company’s spokesperson, Anthony Chiejina.

According to him, the refinery also introduced a 30-day interest-free credit facility for marketers and airline operators backed by bank guarantees.

He added that the company had also changed its pricing structure from dollar-based transactions to payments in Naira, a move expected to ease pressure on local operators.

Mr Chiejina stated that the reduction was necessary due growing concerns over the rising operational costs in Nigeria’s aviation sector.

According to him, aviation fuel accounts for a major part of airline expenses.

He said, “Industry stakeholders have repeatedly warned that the increasing cost of Jet A1 fuel was putting serious financial pressure on domestic airlines and threatening smooth flight operations.

“The refinery’s latest decision is expected to provide relief for airline operators by lowering fuel costs, improving operational stability and supporting efforts to reduce airfares for passengers.” 

(NAN)