Aviation
Airlines To Source Jet Fuel Locally From Dangote Refinery, Ticket Prices Expected To Drop
Domestic airlines in Nigeria have announced a landmark decision to stop purchasing imported Jet A1 fuel, opting instead to buy locally from the Dangote Petrochemical Refinery.
The move, expected to drive down airfares, has been confirmed by the Federal Government.
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According to the Minister of Aviation and Aerospace Development, Festus Keyamo, the decision by the Airline Operators of Nigeria (AON) is part of efforts to support local industry and stabilize fuel prices.
During an interview on Channels Television’s Political Paradigm, Keyamo disclosed that the AON, with backing from the government, has committed to sourcing all of their Jet A1 fuel from the newly commissioned Dangote Refinery.
“The Airline Operators of Nigeria have decided to stop purchasing imported fuel. Instead, they will buy Jet A1 from Dangote Refinery, which will provide cheaper and more stable fuel pricing,” Keyamo stated.
This development comes in the wake of the Federal Government’s recent policy to sell crude oil to local refineries, including the Dangote Refinery, in naira rather than foreign currency.
The policy, which took effect on October 1, aims to stabilize domestic fuel prices and reduce the nation’s reliance on the fluctuating international oil market.
By conducting transactions in naira, the pressure on Nigeria’s foreign exchange reserves is expected to ease, providing a much-needed boost to the economy.
Additionally, this shift is projected to help stabilize the exchange rate between the naira and the dollar, while curbing inflationary pressures linked to fuel imports.
Keyamo emphasized that this policy shift would protect Nigeria’s aviation industry from the volatility of global oil prices.
“With the purchase of Jet A1 fuel in naira, airlines will no longer be subjected to the unpredictability of international oil prices. This will result in lower operational costs for airlines and, ultimately, lower airfares for passengers,” he added.
The move is seen as a major step towards reducing operational costs for Nigerian airlines, as fuel typically accounts for a large percentage of their expenses.
With the availability of cheaper fuel, airline operators are expected to pass on the savings to consumers, potentially leading to a significant reduction in airfares across the country.
This decision aligns with broader government efforts to support local industries, reduce dependency on imports, and strengthen the Nigerian economy.
An Abuja-Accra flight experienced technical difficulties mid-air on Friday, forcing it to return to Abuja, shortly after departure.
The Nigerian Safety Investigation Board (NSIB) made the disclosure in a statement, adding that it has launched investigation into what it described as a serious accident.
Director, Public Affairs and Family Assistance, NSIB, Bimbo Olawumi Oladeji stated that preliminary investigations revealed the aircraft experienced an engine number two indication issue.
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It was gathered that the aircraft, with registration number 5NKAL which was operating a flight from the Nnamdi Azikiwe Airport, Abuja (DNAA), to Kotoka International Airport, Accra (DGAA).
She explained that four persons were onboard when the incident occurred. The crew immediately requested for a diversion back to Abuja due to the engine indication.
Oladeji added that the crew managed to safely land the aircraft at Abuja Airport at 18:16 UTC.
There were no injuries reported, and all individuals on board are safe.
Nigeria has acquired 12 pre-owned Alpha Jets from the French Air Force as part of efforts to enhance the operational capacity of the Nigerian Air Force (NAF).
The deal, facilitated through SOFEMA, a French military and aeronautics company, was announced by Olusegun Dada, Special Assistant to President Bola Tinubu on via X on Thursday.
He said, “All the 12 aircraft are ready for shipping.”
The Alpha Jet, a product of Franco-German collaboration, is a versatile military aircraft designed for light attack and advanced training missions.
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Equipped to carry bombs, rockets, and missiles, the aircraft also features a gun pod for close air support.
The NAF already operates 11 Alpha Jets, but this latest procurement signals a significant boost to its fleet.
Dada also confirmed that the Air Force is expecting 24 M-346FA light attack aircraft, ordered during the administration of former President Muhammadu Buhari.
The first batch of these Italian-made aircraft is expected to arrive early next year.
Air Chief Marshal Hasan Abubakar, the Chief of Air Staff, described the acquisitions as a testament to President Tinubu’s commitment to bolstering the armed forces.
“This renewal of our aircraft fleet reflects the government’s commitment to ensuring the safety and security of Nigerians,” Abubakar said.
The announcement comes on the heels of President Tinubu’s three-day state visit to France, where he met with French President Emmanuel Macron.
The visit, which took place from November 27 to November 30, highlighted deepening ties between the two nations.
To ensure the sustainability of its expanding fleet, the Air Force has proposed establishing a local maintenance hub.
Speaking in October, Abubakar noted that six units of the M-346FA aircraft were already in production, with the initial batch of three expected to be delivered in early 2025. The full fleet is projected to arrive by 2026.
“These developments underscore the importance of creating a domestic support system for the long-term upkeep of our aircraft,” Abubakar added.
As the holiday season draws near, Aero Contractors has introduced a minimum ticket price of N80,000 for all local flights.
The move, which will last until January 2024, aims to ease the financial burden on Nigerians amid the high cost of living.
Ado Sanusi, Managing Director of Aero Contractors, made the announcement on Tuesday during a press briefing, describing the fare reduction as a gesture to help Nigerians celebrate Christmas and the New Year without the stress of steep ticket prices.
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Sanusi said, “We understand the economic hardship Nigerians are facing, especially with high ticket prices, and we know the holiday season is nearby.
“In the spirit of Christmas, Aero Contractors has introduced what we call pocket-friendly Christmas prices. These fares, starting at N80,000, will apply to all our destinations, allowing Nigerians to travel without excessive costs.”
As of Tuesday afternoon, an economy class ticket from Lagos to Abuja was priced at N99,643, while business class tickets were being sold for N189,167.
Sanusi further explained that the initiative was designed to make it easier for families to reunite during the holidays.
“This is a way for us, as an organization with a long history of serving Nigerians, to give back to our loyal customers. We want to make it possible for families to meet their loved ones during this festive season without worrying about exorbitant travel costs,” he added.
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