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‘At N714/litre of JetA1, 3 airlines may wind up’

At the current rate of N714 per litre of Jet A1 aviation fuel, operators said three airlines may soon shut down. Vice-President of the Airline…

At the current rate of N714 per litre of Jet A1 aviation fuel, operators said three airlines may soon shut down.

Vice-President of the Airline Operators of Nigeria (AON), Mr Allen Onyema, who stated this on Wednesday, however, did not mention the airlines.

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There have been several interventions by the federal government and the National Assembly but they have not yield results.

Speaking at the Federal Airports Authority of Nigeria (FAAN) National Aviation Conference (FNAC) in Abuja on Wednesday, Onyema said while the aviation fuel crisis is not limited to Nigeria, it was made worse by the naira to dollar exchange.

He said the federal government had approved 10,000 metric tons of aviation fuel to the airlines but they were yet to access it.

He noted that 16 months ago, the price of aviation fuel was about N200 per litre but has risen to over N700 per litre today in the local market.

He said: “That is why we ran to the government and the federal government has given us about 10,000 metric tons of fuel at N580 per litre in Lagos and about N607 per litre outside Lagos.”

However, he said, the committee’s effort was yet to yield results as the prices continue to rise. 

A representative of aviation fuel marketers, Engr. John Abegunde, appealed to the government not to step into the commercial-related issues in aviation fuel supply, saying this may jeopardise safety in the system.

 

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