—Fuel Prices Surge 300% In Weeks
Nigeria’s domestic aviation sector is on the brink of disruption after airlines warned they may suspend operations within days, citing an extraordinary spike in jet fuel prices that has triggered a standoff with government and suppliers.
The Airline Operators of Nigeria said the cost of Jet A1 fuel had risen from around ₦900 (£0.45) per litre at the end of February to as high as ₦3,300 in April—an increase of more than 300 per cent in a matter of weeks.
In a letter to fuel suppliers, the group described the increase as “artificial” and far out of step with global oil market movements, noting that international crude prices had risen by roughly 30 per cent over the same period.
The warning has raised the prospect of widespread flight cancellations across Africa’s most populous nation, with knock-on effects for business travel, cargo movement and regional connectivity.
Nigeria’s aviation minister, Festus Keyamo, has urged airlines to reconsider both any suspension of services and immediate fare increases, warning that such moves would place further strain on an already fragile economy.
“Any immediate upward adjustment in ticket prices would impose significant hardship on the travelling public,” he said in a letter to operators, while cautioning that a shutdown would have “far-reaching adverse implications” for trade and national mobility.
The government of Bola Ahmed Tinubu has called an emergency meeting of industry stakeholders in Abuja next week, as it seeks to avert a crisis in a sector widely viewed as critical to economic integration and national security.
Fuel suppliers, represented by the Major Energies Marketers Association of Nigeria, have pushed back against the airlines’ claims, disputing the ₦3,300 price point and attributing rising costs to global supply disruptions linked to instability in the Middle East.
The dispute highlights deeper structural vulnerabilities in Nigeria’s aviation industry, which remains heavily dependent on imported aviation fuel and exposed to fluctuations in foreign exchange markets.
Even before the latest spike, airlines were operating on thin margins amid rising operating costs, limited access to foreign currency and persistent infrastructure challenges.
Analysts say the scale of the current increase raises questions about pricing transparency and supply chain dynamics, particularly given the disparity between global oil trends and domestic fuel costs.
For passengers, the immediate concern is affordability and access. Any significant rise in ticket prices risks putting air travel out of reach for many Nigerians, potentially dampening demand and further weakening airlines’ finances.
With days to go before the threatened shutdown, attention is now focused on whether next week’s talks can produce a rapid and credible resolution—or whether Africa’s largest aviation market will be forced into a sudden halt.