Fuel Marketers Manipulating Nigerians Amid Price Hike

Toni Ukachukwu, the Chief Executive Officer of Aviation Africa, has raised concerns about fuel marketers manipulating the Nigerian market in light of a recent fuel price hike. He stated that the current geopolitical tensions, particularly the Iran-US conflict, have not adversely impacted Nigeria's local crude production.

Ukachukwu emphasized that the country produces approximately 300,000 barrels of crude oil daily, which should mitigate the effects of external disruptions. He pointed out that domestic and foreign airlines operating in Nigeria have begun shutting down services due to the increased cost of aviation fuel, which has risen to N3,000 per liter.

Ukachukwu criticized the marketers for their actions, suggesting that they are taking advantage of the situation to inflate prices, thereby affecting ordinary Nigerians. He expressed the belief that the local refining capacity, including the Dangote refinery, should provide some insulation against such market manipulations.