Foreign exchange-induced costs have raised airlines’ operating costs, erasing gains from an earlier steep reduction in the price of aviation fuel. The situation has seen airfares across local destinations in Nigeria remaining high or rising, shrinking passenger wallets. Last year, BusinessDay reported that Dangote Refinery reduced the prices of diesel and aviation fuel to N940 and N1000 per litre, respectively, from a peak of N1,700 in 2023. Staff at the aviation fuel depot told BusinessDay that marketers now buy aviation fuel at N1,00
Foreign exchange-induced costs have raised airlines’ operating costs, erasing gains from an earlier steep reduction in the price of aviation fuel. The situation has seen airfares across local destinations in Nigeria remaining high or rising, shrinking passenger wallets. Last year, BusinessDay reported that Dangote Refinery reduced the prices of diesel and aviation fuel to N940 and N1000 per litre, respectively, from a peak of N1,700 in 2023. Staff at the aviation fuel depot told BusinessDay that marketers now buy aviation fuel at N1,00