Nigeria has stepped in to stabilize its aviation sector by capping jet fuel prices and allowing airlines to buy fuel on credit, aiming to prevent widespread flight disruptions. The move follows a dramatic surge in fuel costs—up more than 270%—that forced airlines to raise ticket prices and consider cutting capacity. Under the new directive, fuel must be sold within a regulated price band, while operators are granted a 30-day payment window to ease financial pressure. Earlier, President Bola Tinubu approved a 30% debt relief on airlines’ obligations to aviation agencies. A technical committee has also recommended direct fuel sales from marketers to airlines to cut costs and improve transparency. Officials are additionally exploring including jet fuel in Nigeria’s naira-for-crude initiative to ease foreign exchange pressures on carriers. Together, these measures are designed to curb volatility, improve supply, and keep flights running smoothly.
Business Insider Africa
