The federal government has officially designated Dangote Refinery as the exclusive supplier of Jet A1 fuel to aircraft companies operating in Nigeria.
This announcement was made by Minister of Aviation and Aerospace Development, Festus Keyamo, on Tuesday.
Keyamo explained that this arrangement comes on the heels of a new crude-for-naira deal, which means that the jet fuel will no longer be subject to fluctuations in foreign exchange rates.
Keyamo said, “It’s a decision by the airline operators in Nigeria that they should only buy from Dangote refinery Jet A1, and it has my blessing.”
He stated, “You can see that yesterday we started a naira-for-crude purchase with Dangote. It’s all Naira, with no Dollar component.
“The price will no longer be subjected to the varying factors of the international market, nor the headwinds of oil price in the international market.
“It will be in local currency so we can be clear as to the cost of it. We will buy it in naira. I’m sure we are going to have access to cheaper Jet A1 fuel.”
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