The Dangote Refinery has announced a gantry price of ₦1,820 per litre for aviation fuel, in what it described as a step toward improving transparency in Nigeria’s downstream petroleum market.
The development comes amid growing concerns from airline operators over the rising cost of aviation fuel and its strain on operations across the sector.
Despite earlier pricing guidance from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), marketers have continued to sell aviation fuel to airlines at rates above ₦2,230 per litre, far exceeding recommended benchmarks.
The regulator had previously suggested a price range of ₦1,760 to ₦1,988 per litre in Lagos and about ₦2,037 per litre in Abuja, based on prevailing market conditions following consultations with stakeholders in the aviation and downstream sectors.
However, market data indicates that actual transactions remain significantly higher than the advisory rates, with airlines still paying as much as ₦2,230 per litre in some cases.
Commenting on the development, industry analyst and CEO of Petroleumprice.ng, Olatide Jeremiah, urged the refinery to publish daily jet fuel gantry prices, saying this would reduce opacity in pricing, limit excessive middlemen margins, and help curb artificial price increases affecting the aviation industry.
Similarly, the spokesperson for United Nigeria Airlines, Chibuike Uloka, noted that the aviation fuel market operates on a deregulated basis, stressing that while the NMDPRA provides price guidance based on market assessments, marketers ultimately determine selling prices.
He added that the rising cost of aviation fuel has significantly impacted airline operations, citing examples of escalating operational expenses across carriers, including a sharp increase in fuel costs per flight over recent months.
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