Dangote Refinery Lowers Jet Fuel Price to N1,650/Litre

Dangote Petroleum Refinery has announced a reduction in the price of aviation fuel (Jet A1) to N1,650 per litre, down from the previous price of N1,750 per litre. This decision is part of an effort to ease the financial burden on airlines, which have been facing operational challenges due to soaring fuel prices that have exceeded N2,500 per litre.

The refinery's initiative also includes a 30-day interest-free credit facility backed by a bank guarantee for airlines operating in Nigeria. This intervention is crucial as aviation fuel constitutes a significant portion of airline expenses.

The refinery's management expects that this price reduction will provide relief to airlines, lower their fuel procurement costs, and improve operational stability, ultimately supporting efforts to moderate airfares in the country.