NMDPRA Commended for Stabilizing Aviation Fuel Market

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has received praise from the Central Energy Market Integration Sustain (CEMI) for its recent interventions that have stabilized the aviation fuel market. This stability is crucial in averting potential disruptions to air travel operations, particularly during a time of heightened uncertainty among airline operators.

Tund Adeyemi, the Executive Director of CEMI, confirmed that there is a sufficient supply of aviation fuel, specifically Jet A1, for 70 days, which reflects a strong supply position. The data-driven disclosures from NMDPRA have helped counter speculation regarding possible surges in aviation fuel prices.

CEMI emphasized that aviation fuel is a major cost driver for airlines, making price stability essential for the sector's sustainability. The organization also highlighted the importance of local refining in moderating aviation fuel prices and urged stakeholders to avoid spreading unverifiable claims that could destabilize the market.

CEMI called for continued support for regulatory institutions to maintain effective oversight and consistent policies.