By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Domestic Airfares in Nigeria May Drop Soon
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Business

Domestic Airfares in Nigeria May Drop Soon

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: April 23, 2024
Share
3 Min Read
SHARE

There are promising signs that ticket prices for domestic flights in Nigeria could witness a significant decrease soon, owing to the anticipated commencement of aviation fuel supply by Dangote Refinery.

This development comes as a relief to both airline operators and passengers who have been grappling with soaring ticket costs driven by the high price of Jet A1 fuel.

Over the past four years, the escalating cost of jet fuel has compelled indigenous carriers to hike ticket prices to sustain their operations.

However, the introduction of Dangote Refinery into the aviation fuel market is expected to stabilize and potentially lower the cost of Jet A1, providing a more cost-effective fuel source for domestic airlines.

- Advertisement -

The 12 scheduled airlines in Nigeria, including Air Peace, Aero Contractors, Arik Air, Max Air, Azman, Dana Air, Ibom Air, Green Africa, Overland, Rano Air, ValueJet, and United Nigeria Airlines, jointly agreed on February 20, 2022, to increase airfares by 100 per cent to meet operational costs.

However, with operators anticipating a possible drop in the price of Jet A1, passengers might experience a reprieve in airfares.

Managing Director of Aero Contractors, Captain Ado Sanusi, expressed that while the price of Jet A1 has remained steady, airlines would welcome a decrease in price.

He stated, “As operators, we have no idea of the refinery where marketers buy Jet A1, but what we look at is the price. If the price drops, whether it is from Dangote refinery or refineries outside the country, we will appreciate it.”

- Advertisement -

Sanusi further elaborated, “The price has been steady, and that is what we use in making our projections. The price of jet fuel has been between an average price of N1,200 and N1,400 per litre.”

Regarding the potential impact of the imminent supply on airfare, he commented, “It depends on what price Dangote refinery sells Jet A1. If it sells below the market price, then, of course, it would drop price. However, if it is not selling below the market price, there won’t be a drop in price.”

Sanusi emphasized the importance of consistent supply and stable prices, stating, “What we think will bring down the price of Jet A1 is the cost of freight. If Port Harcourt, Warri, and Dangote refineries could give us enough jet A1 for some time and we have steady prices, it will definitely have an impact on price. However, that won’t be possible in a few days. It has to be consistent for a few weeks and even months.”

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Domestic Airfares
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article CAAF24: Climate Action Africa Opens Applications for Deal Room [Apply]
Next Article Forex Watch: Here’s How the Naira Performed Against the Dollar on April 22, 2024

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Dangote Refinery Unveils N720bn CNG Truck Fleet to Slash Fuel Costs, Save Nigeria Over N1.7trn Annually
Energy & Oil
Nigerian Troops Neutralize Terror Kingpin Mai Dada, Recover Arms in Multi-Region Operations
Security
NNPP Welcomes Possibility of Rabiu Kwankwaso Joining APC Amidst Ganduje’s Resignation
News
Tinubu’s State Visit to Saint Lucia Marks Historic Diplomatic and Cultural Engagement, Presidency Clarifies
International News
President Bola Tinubu Suspends Implementation of Financial Reporting Council Amendment Act 2023
News
- Advertisement -
Ad imageAd image

You May Also Like

News

Aminu Dantata to be Buried in Madinah After Saudi Approval

Muhammad A. Aliyu
Muhammad A. Aliyu
June 29, 2025
CrimeVideo

VIDEO: NDLEA Issues Strong Advisory to Travellers Against Carrying Unknown Bags

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
News

SERAP Demands Transparency from Nigeria’s Governors on Security Vote Spending

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?