A federal government technical committee has recommended the inclusion of aviation fuel, known as Jet A1, in the naira-for-crude initiative, as part of efforts to address rising costs in Nigeria’s aviation sector. The recommendation followed meetings held on April 22 and 23, convened by the Minister of Aviation and Aerospace Development, Festus Keyamo.
The committee, which includes representatives from key aviation and petroleum agencies, met again on April 24 under the Nigerian Midstream and Downstream Petroleum Regulatory Authority to propose solutions. This comes after airline operators threatened to suspend operations over a more than 300 percent increase in fuel prices, from 900 naira per litre in February to about 3,300 naira.
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As part of its recommendations, the panel proposed indicative fuel prices ranging from 1,760 to 1,988 naira per litre in Lagos, and up to 2,037 naira in Abuja. It also advised that fuel marketers sell directly to airlines and consider a 30-day credit window to ease financial pressure on operators.
The committee further called for regulatory coordination to reduce the number of fuel distributors and ensure price stability.
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