- Dangote Refinery recently announced a gantry price of ₦1,820 per litre for aviation fuel
- His remarks come amid persistent concerns from airlines and passengers over the rising cost of aviation fuel
- The authority also noted that its pricing framework is based on international crude oil benchmarks
Regulators have said that the newly released indicative aviation fuel price from Dangote Refinery could help stabilise the market and improve compliance among fuel marketers.
Speaking in Abuja, Eko Hot Blog reports that the Director of Public Affairs at the Nigerian Midstream and Downstream Petroleum Regulatory Authority, George Ene Ita, said the development would strengthen monitoring of Jet A1 pricing across the country.
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His remarks come amid persistent concerns from airlines and passengers over the rising cost of aviation fuel and its effect on flight operations and ticket prices.
Dangote Refinery recently announced a gantry price of ₦1,820 per litre for aviation fuel, a move seen as part of efforts to improve transparency and guide pricing in the sector.
This follows earlier guidance from the regulator, which set a recommended price band for Jet A1 between ₦1,760 and ₦1,988 per litre in Lagos and ₦1,809 to ₦2,037 per litre in Abuja, alongside directives aimed at ensuring direct sales to airlines.
However, market reports indicate that some marketers still sell above ₦2,200 per litre, raising fresh concerns about pricing discipline within the downstream aviation fuel supply chain.
Ene Ita explained that while the petroleum sector has been fully deregulated, the refinery’s decision to publish daily price guidance would assist regulators in tracking market behaviour more effectively.
He added that the initiative is expected to ease cost pressures on airlines and support smoother operations across the aviation industry.
According to him, regulatory surveillance will continue to ensure that consumers benefit from efforts aimed at improving transparency and pricing stability.
The authority also noted that its pricing framework is based on international crude oil benchmarks, using Platts data to reflect global market trends.
It added that although these benchmarks guide pricing expectations, actual retail costs may still fluctuate due to timing of purchases and global supply disruptions.
Global geopolitical tensions, including the ongoing United States and Iran situation, were also cited as key factors influencing volatility in aviation fuel prices.
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