Economy News

Aviation Fuel: Local Airlines Shutdown In 3 Days

Aviation Fuel: Local Airlines Shutdown In 3 Days
  • PublishedMarch 14, 2022

Owing to the scarcity of aviation fuel, local airlines have said they have only three days from this Monday to shut down operations.
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This is just as the operators said Nigerians would spend an average rate of N120,000 for an economy ticket if they are to continue flying.

Speaking before a special House of Representatives Committee investigating the unavailability of aviation fuel with the aim of proffering solutions, the airlines represented by the chief executive officer of Air Peace, Mr. Allen Onyema, said that they could not afford the product anymore.

Meanwhile, representatives of the oil marketers said high Dollar rate was responsible for the high cost of the fuel.

This is just as the fuel marketers failed to convince the House of Representatives panel on why the prices of the product were hitting the rooftops on daily basis.

It was gathered that currently, the airlines were buying the fuel at N670 from normal price of 190 per litre.

Deputy Speaker of the House, Ahmed Idris Wase, who chaired the committee asked the marketers how much they purchased the Dollar and which banks, to which the representatives of the marketers could not give an answer.
He, therefore, warned against blackmailing the government.

Meanwhile, the group managing director of NNPC Limited, Mele Kyari, has said that at the moment there were 19 oil companies with 88 million litres of aviation fuel in the country

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