Dangote's Aviation Fuel Price Disclosure to Stabilize Market
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stated that Dangote Group's recent disclosure of aviation fuel prices will help ensure market stability. Dangote Petroleum Refinery has fixed its price for aviation fuel, known as Jet A1, at N1,820 per liter.
This move is intended to enhance transparency in the sector, especially as Nigerian airlines face concerns over high fuel costs impacting operations. NMDPRA has 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 these guidelines, prices in the market have exceeded N2,230 per liter, raising concerns within the aviation sector. NMDPRA emphasized the importance of compliance with market operations and plans to monitor prices closely.
Additionally, Dangote Group dismissed allegations of a rift with Toni Elumelu, clarifying that no financial arrangements or misrepresentations occurred, and reaffirmed its commitment to maintaining high standards of integrity.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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