A high-level meeting convened by the Federal Government to address the rising cost and supply challenges of Jet A1 fuel has ended without a resolution. The closed-door session, hosted by the Ministries of Aviation and Aerospace Development and Petroleum Resources, alongside oil marketers and the Airline Operators of Nigeria, lasted……
A high-level meeting convened by the Federal Government to address the rising cost and supply challenges of Jet A1 fuel has ended without a resolution.
The closed-door session, hosted by the Ministries of Aviation and Aerospace Development and Petroleum Resources, alongside oil marketers and the Airline Operators of Nigeria, lasted over two hours.
The Minister of Aviation described the talks as frank and necessary, noting that they were aimed at tackling persistent concerns over the pricing and availability of aviation fuel.
Despite extensive deliberations, the meeting did not yield an immediate outcome. The Minister said further engagements with key stakeholders would continue within the next 48 to 72 hours in a bid to find a lasting solution.
He acknowledged the mounting pressure on airlines, warning that sustaining operations at current Jet A1 prices could lead to higher airfares for passengers.
As part of interim measures, the Federal Government announced a 30 per cent discount on debts owed by airlines to aviation agencies, following approval by Bola Ahmed Tinubu.
Speaking for the Airline Operators of Nigeria, Allen Onyema attributed the surge in aviation fuel costs to global oil market tensions, particularly involving the United States and Iran, as well as ongoing supply constraints faced by operators.
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