Dangote Refinery cuts Jet fuel price to N1,650 per litre

Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel (Jet A1) to N1,650 per litre from N1,750 per litre, in a move aimed at easing cost pressures on airlines and ensuring uninterrupted fuel supply across the country. The latest reduction comes in addition to a 30-day interest-free credit facility backed by bank […]

Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel (Jet A1) to N1,650 per litre from N1,750 per litre, in a move aimed at easing cost pressures on airlines and ensuring uninterrupted fuel supply across the country.

The latest reduction comes in addition to a 30-day interest-free credit facility backed by bank guarantees for marketers and airline operators, as well as the refinery’s transition from a dollar-denominated pricing structure to a naira-based model.

Daily Trust reports that the domestic carriers had reduced flight frequencies over the development amidst skyrocketing fuel prices exceeding N2500 per litre.

In a statement, the refinery said, “Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel (Jet A1) to N1,650 per litre from N1,750 per litre, in a move aimed at easing cost pressures on airlines and ensuring uninterrupted fuel supply across the country.

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“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 intervention comes amid growing concerns over the rising operational costs faced by domestic carriers, with aviation fuel accounting for a significant portion of airline expenses.

The refinery explained that its decision “is expected to provide relief to airline operators by lowering fuel procurement costs, improving operational stability, and supporting efforts to moderate airfares.”