The price of aviation fuel, also known as Jet A1, has been reduced by Dangote Petroleum Refinery and Petrochemicals to N1,650 per litre from N1,750 per litre.
The company, in a statement, said this price slash was done to ease cost pressures on airlines and ensure an uninterrupted fuel supply across the country.
This is in addition to a 30-day interest-free credit facility backed by bank guarantees (BG) for marketers and airline operators and a shift from a dollar-denominated pricing structure to a naira-based model.
The private refiner also stated that these interventions come amid growing concerns over the rising operational costs faced by domestic carriers, with aviation fuel accounting for a significant portion of airline expenses.
Industry stakeholders have repeatedly warned that escalating Jet A1 prices were placing severe financial strain on operators and threatening the sustainability of flight operations.
The refinery’s decision is expected to provide relief to airline operators by lowering fuel procurement costs, improving operational stability, and supporting efforts to moderate airfares.