Dangote Refinery's Jet Fuel Price to Stabilize Aviation Market

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stated that the Dangote Petroleum Refinery's fixed jet fuel price of N1,820 per liter will help stabilize the aviation market. Mr. George Enita, the Director of Public Affairs at NMDPRA, emphasized that this move aims to enhance transparency in the sector, particularly as Nigerian airlines face rising operational costs due to high aviation fuel prices.

The NMDPRA had previously set a price cap for jet fuel, ranging from N1,760 to N1,988 per liter in Lagos and N1,809 to N2,037 per liter in Abuja. Despite this, some suppliers were selling aviation fuel at prices as high as N2,230 per liter, raising concerns within the aviation sector.

The NMDPRA indicated that the latest pricing from Dangote Refinery would be published daily to ensure compliance and monitor the market effectively. This initiative is part of broader efforts to address the challenges faced by the aviation industry amid global oil market volatility.