THE Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has countered the aviation airline price hike claim.
It affirmed that there is sufficient aviation fuel supply in the country, amid concerns over rising prices.
The regulatory authority’s position came on the heels of domestic airlines’ threat to suspend operations from April 20 over the rising cost of Jet A1, also known as aviation fuel.
The Airline Operators of Nigeria (AON) on April 15, had said the price of Jet A1 increased from N900 per litre as of February 28 to N3,300 per litre — representing a rise of over 300 per cent.
However, the Director of the Public Affairs Department at NMDPRA, George Ene-Ita, in a statement on Friday, April 17, said Nigeria had 74 days’ sufficiency of aviation fuel, comprising inland and refinery stocks.
“The NMDPRA wishes to assure the public that there is a robust supply of aviation fuel in the country with the inland stock sufficiency of 12 days, and the refinery stock sufficiency of 62 days — making a total of 74 days of national sufficiency.
“It is imperative to note that, like other petroleum products, aviation fuel has been fully deregulated, and the price is driven by market dynamics,” the oil industry regulator said.
According to NMDPRA, the ex-gantry price at the Dangote Petroleum Refinery and Petrochemical Company stood at N1,879 per litre as of April 16, slightly below the international indicative price of N1,900 per litre.
The regulator added that its nationwide survey showed retail prices ranged between N1,960 and N2,800 per litre.
“Therefore, the speculated N3,300 per litre price of aviation fuel being peddled in the media does not reflect current market reality,” the agency said.
NMDPRA said it would continue to monitor supply and pricing to prevent disruptions and profiteering across the country.
The authority also reaffirmed its commitment to ensuring energy security, while commending stakeholders in the aviation fuel supply chain for maintaining steady distribution of the product.
Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.