Dangote to Directly Sell Jet Fuel at N1,820 per Liter

The Dangote Group has announced its readiness to commence direct sales of jet fuel to airlines in Nigeria at a price of N1,820 per liter. This decision comes as the aviation sector grapples with soaring fuel costs, which have reportedly increased by 350% recently.

David Bird, Managing Director of Dangote Group, confirmed that the refinery, based in Lekki, will supply 90% of the country's aviation fuel needs. The direct sales initiative is intended to help airlines reduce operational costs and prevent a potential collapse of the sector.

The price of jet fuel has fluctuated significantly due to global market conditions, including geopolitical tensions in the Middle East. Airlines have expressed concerns over the unsustainable nature of current fuel prices, which have reached as high as N3,300 per liter.

Allen Onyema, Vice President of Airlines Operating in Nigeria, highlighted the urgent need for government intervention to stabilize fuel prices. The Dangote refinery's move is seen as a critical step towards transparency in pricing and supporting the aviation industry.