Dangote Refinery Slashes Jet Fuel Price to N1,650 Per Litre

Dangote Petroleum Refinery & Petrochemicals has announced a reduction in the price of aviation fuel (Jet A1) to N1,650 per litre, down from N1,750, in a move aimed at easing financial pressure on airlines and ensuring steady fuel availability nationwide.

The refinery also introduced a 30-day interest-free credit facility for marketers and airline operators, backed by bank guarantees. In addition, it has transitioned from a dollar-based pricing system to a naira-denominated model, a shift expected to reduce exposure to foreign exchange volatility.

These measures come at a time when domestic airlines are grappling with rising operational costs, with aviation fuel accounting for a significant share of total expenses. Industry stakeholders have repeatedly raised concerns that the soaring cost of Jet A1 was threatening the sustainability of flight operations across the country.

Analysts say the price cut and supportive financing options could provide much-needed relief to airline operators by lowering fuel procurement costs, enhancing operational stability, and potentially moderating airfares for passengers.