Nigerian Government Moves to Stabilize Jet Fuel Prices

The Nigerian government, represented by Minister of Aviation and Aerospace Development Festus Keyamo and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), is actively working to stabilize jet fuel prices. This initiative comes in response to concerns from the aviation sector regarding rising fuel costs, which have triggered fears of market distortions.

Analysts suggest that allowing market forces to dictate prices could lead to better outcomes, but the government is considering measures to control prices to avoid unintended consequences, such as product scarcity and supply chain disruptions. The NMDPRA is engaging with key stakeholders, including airline operators and other regulatory bodies, to broker a truce and restore confidence in the aviation sector.

A meeting held on April 22-23, 2026, resulted in an agreement to review aviation fuel prices downward, with current market prices ranging from N1,760 to N1,988 per liter. The NMDPRA plans to sell directly to airline operators to ensure price stability and address outstanding debts in the market.