The Nigerian National Petroleum Company (NNPC), Airline operators, aviation fuel marketers and other stakeholders have agreed on an interim price of N500 for aviation fuel, Jet A1.
The interim price is to run for three days pending the determination of a substantive price that would be arrived at.
The Group Managing Director, NNPC Ltd, Mele Kyari, disclosed this at the end of the resumed stakeholders meeting on the high cost and non-availability of aviation fuel in the country.
BREAKING NEWS: The @HouseNGR and #NNPC Ltd earlier today brokered an interim agreement between Oil marketers and Airline operators in a bid towards resolving the current aviation fuel situation in the country. pic.twitter.com/4WxJPf7tGC
— NNPCLimited (@NNPCgroup) March 14, 2022
Mr Kyari said after consultations between stakeholders, the airline operators would be given licences to import aviation fuel as requested by the chairman of Air Peace.
“They have agreed to fix the price for N500 per litre for three days after which a substantive price would be fixed,” Kyari added.
The Vice-Chairman, Airline Operators of Nigeria, Allen Onyeama said, although it was not what they expected, they have agreed to experiment with the price for three days while negotiations between stakeholders last.
“We would have loved to have the price as low as N200 per litre, but we will keep to the agreement on the tentative price,” Onyeama said.
He, however, disclosed that the cost of airline tickets would still be on the high side until everything is resolved.
The Deputy Speaker, Ahmed Wase pleaded with the stakeholders to resolve the issue and reduce the sufferings of aviation passengers in the country, adding that the interim report would be presented on the floor of the House on Tuesday, March 15, 2022.
PIAK
