The Nigerian Midstream and Downstream Petroleum Regulatory Authority has said the newly published gantry price for aviation fuel by the Dangote Petroleum Refinery will help restore order and improve price compliance in Nigeria’s aviation fuel market.
Speaking in Abuja, the regulator’s Director of Public Affairs, George Ene-Ita, explained that the refinery’s decision to make its indicative price for Aviation Turbine Kerosene (Jet A1) public would support the agency’s monitoring efforts and discourage excessive pricing by marketers.
Dangote Refinery recently fixed its gantry price for Jet A1 at ₦1,820 per litre. The move comes amid complaints from airline operators over the rising cost of aviation fuel and its effect on ticket prices and flight operations.
To address the situation, the NMDPRA had earlier issued a pricing guide and directed marketers to sell directly to airlines. The regulator advised that Jet A1 should be sold between ₦1,760 and ₦1,988 per litre in Lagos, and ₦1,809 to ₦2,037 per litre in Abuja.
However, some marketers were reportedly selling the product at ₦2,230 per litre and above, deepening concerns in the aviation sector.
Ene-Ita noted that while petroleum product pricing has been deregulated, the refinery’s transparency in publishing its daily indicative prices would strengthen surveillance and encourage fair pricing practices across the market.
He added that the initiative by the refinery was aimed at easing operational pressure on airlines and ensuring that passengers are not overburdened by high fares driven by fuel costs.
The regulator also disclosed that its pricing framework was based on international market data recorded between April 17 and April 23, reflecting prevailing global oil market conditions. It, however, cautioned that prices may still fluctuate depending on timing of purchase and external factors.
The agency attributed part of the recent volatility in aviation fuel prices to geopolitical tensions, including the ongoing situation between the United States and Iran.
