KEY POINTS
- Dangote Refinery will begin publishing aviation fuel prices daily to improve transparency.
- The move is expected to help regulators monitor compliance and ease pressure on airlines.
- Rising global energy costs continue to influence fuel prices despite government benchmarks.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has announced that the Dangote Petroleum Refinery will begin publishing aviation fuel prices on a daily basis.
According to the regulator, this step is expected to improve transparency and help monitor pricing across the sector.
The announcement was made by the agency’s Director of Public Affairs, George Ene-Ita, who explained that regular price updates would support compliance among marketers and operators.
The regulator said the refinery’s commitment to releasing daily indicative prices would make it easier to track market behaviour during routine inspections nationwide. Although fuel prices have been deregulated, the NMDPRA noted that such disclosures would still play a key role in ensuring fair practices.
Officials believe that having consistent pricing information available will reduce uncertainty and promote accountability within the aviation fuel supply chain.
Effort to ease pressure on aviation sector
The NMDPRA described the refinery’s decision as a supportive measure to help reduce rising operational costs in the aviation industry. Airlines have faced increasing financial pressure due to the sharp rise in aviation fuel prices in recent months.
By providing clearer pricing benchmarks, the move is expected to help stabilise costs and prevent disruptions to airline operations.
Airline operators had earlier raised concerns over the sharp increase in aviation fuel prices, also known as Jet A1. Prices reportedly rose from about N900 per litre in February to as high as N3,300 per litre, representing a significant jump.
The situation had led to threats of a shutdown by airline operators, although the planned suspension of operations was later called off after discussions with authorities.
A federal government committee involving regulators, airline operators, and oil marketers had earlier proposed a price range for aviation fuel. The suggested rates were between N1,760 and N1,988 per litre in Lagos, and slightly higher in Abuja.
These benchmarks were based on international pricing data and were designed to guide the market amid ongoing fluctuations in global oil prices.
