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Aviation fuel: We are yet to feel impact of FG’s intervention – Airline operators

The Airline Operators of Nigeria (AON) has said it is yet to feel the impact of the federal government’s intervention in the aviation fuel crisis.…

The Airline Operators of Nigeria (AON) has said it is yet to feel the impact of the federal government’s intervention in the aviation fuel crisis.

The airline operators, Nigeria National Petroleum Company Limited (NNPC), Central Bank of Nigeria (CBN) and relevant regulators in May reached agreements to end volatility in the price of aviation fuel, also known as Jet A1.

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The parties agreed that six million litres of aviation fuel would be provided at N480 a litre for three months in what seems like a forex subsidy pending when the carriers would be granted a license to import the commodity.

The agreements were reached at the end of the meeting summoned by the House of Representatives leadership to avert airline operators’ planned shutdown after aviation fuel reached an all-time high of N700 per litre.

But the airline operators said the aviation industry in Nigeria has continued to struggle because the federal government’s interventions have not been fully implemented.

The Chairman, United Nigeria Airlines Limited and AON spokesperson, Obiora Okonkwo stated this on Tuesday while speaking with newsmen on the sidelines of an investiture in Abuja where he was installed as the National Grand Patron of Ndigboamaka Progressives Market Association, the umbrella organisation of all Igbo traders in Lagos State.

Speaking on the government’s measures to address the aviation fuel price increase, Okonkwo said, “Nothing much has changed except that the government of the day was very magnanimous, kind, listened to us (airline operators) and put a lot of things in motion to soften the impact of the aviation fuel price increase.

“We are very happy and grateful to them but the truth of the situation is that those initiatives taken are still at the implementation stage. They have not been fully implemented, so we are not feeling the impacts yet.

“The aviation fuel has continued to rise but I can tell you that some of those promises are being implemented but we hope to feel the impacts soon.

“For that reason, the aviation industry continues to struggle. But we thank the travelling public for their understanding.”

He also thanked the Lagos Igbo traders for finding him worthy to be crowned as their grand patron, saying that he was very proud to be associated with them.

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