Featured Headline News Nigeria

Avaition fuel to cost N500 per litre

Deputy Speaker Ahmed Wase, NNPC GMD Mele Kyari, Airline operators and Aviation fuel marketers during the signing of the agreement.

Airline operators, aviation fuel marketers, the Nigeria National Petroleum Corporation (NNPC) Ltd and other stakeholders have agreed on an interim price of N500 for aviation fuel (Jet A1).

The price is to run for three days pending the determination of a substantive price which would be arrived at after the three days.

The Group Managing Director (GMD) NNPC Ltd, Mr Mele Kyari, stated this at the end of the resumed stakeholders meeting on the high cost and non-availability of aviation fuel (Jet A1) in the country.

Mr Kyari said after consultations between stakeholders, they have agreed to fix the price for N500 per litre for three days after which a substantive price would be fixed.

He added that, the airline operators would be given licences to import aviation fuel as requested by the chairman of Air Peace.

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 lasts.

He however said that, they would have loved to have the price as low as N200 per litre, but they will keep to the agreement on the tentative price.

Onyeama said the cost of airline tickets would still be on the high side until everything is resolved.

He had, earlier during the meeting warned that the aviation industry in the country would shut down in the next three days if nothing is done to resolve the crises.

The deputy speaker, Ahmed Wase pleaded with the stakeholders to resolve the issue and reduce the sufferings of aviation passengers in the country.

He added that, they will present their interim report on the floor of the House on Tuesday.

Reporting by Ibrahim Shehu, Editing by Omotola Oguneye