The federal government on Tuesday, October 8 announced the approval of Dangote Refinery as the sole supplier of jet fuel, also known as Jet A1, for Nigeria’s airline operators.
Minister of Aviation, Festus Keyamo, made this known during an interview with Channels TV.
Keyamo stated that the airline operators, with his approval and support, agreed to allow the 650,000-bpd refinery to be the exclusive provider of jet fuel to the operators.
He explained that the timing is ideal, as the federal government recently implemented the naira-for-crude agreement with Dangote.
He said:
“The airline operators just met recently.
With my blessing, it’s a decision from the airline operators in Nigeria that they should only buy from Dangote refinery Jet A1.
“You can see that yesterday we started naira-for-crude purchase with Dangote.
It’s all Naira, no Dollar component,”
The price will no longer be subjected to the varying factors of the international market, nor the headwinds of oil price in the international market.
It will be in local currency so we can be clear as to the cost of it.
We will buy in naira.
I’m sure we are going to have access to cheaper Jet A1 fuel.”
