NMDPRA pushes back on ₦3,300/litre claims, says pricing reflects market forces as airlines warn of shutdown…..
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has moved to calm growing concerns over aviation fuel availability, insisting that supply remains stable despite mounting anxiety over rising prices.
The reassurance comes days after the Airline Operators of Nigeria (AON) warned that domestic carriers could suspend operations from April 20, citing the soaring cost of Jet A1 fuel.
Airlines had raised alarm that prices had surged dramatically from about ₦900 per litre in late February to as high as ₦3,300 per litre sparking fears of widespread disruption in the aviation sector.
However, in a statement issued Friday and signed by its Director of Public Affairs, George Ene-Ita, the regulator said the situation is far from a supply crisis.
According to the agency, Nigeria currently holds 74 days of aviation fuel sufficiency, combining both inland reserves and refinery stock. This includes 12 days of inland supply and 62 days from refinery sources.
The NMDPRA stressed that the availability of Jet A1 remains robust nationwide, dismissing suggestions that shortages are driving the price spike.
It also clarified that aviation fuel pricing is no longer regulated, noting that the product operates fully under a deregulated market system. As a result, prices are determined by supply, demand, and broader global market conditions.
Providing further context, the agency disclosed that the ex-gantry price at the Dangote Petroleum Refinery stood at about ₦1,879 per litre as of April 16, slightly below the international benchmark of around ₦1,900 per litre in Lagos.
A nationwide pricing survey by the regulator shows that retail prices currently range between ₦1,960 and ₦2,800 per litre, significantly lower than the ₦3,300 figure being circulated.
“The speculated ₦3,300 per litre price does not reflect current market reality,” the agency said, pushing back against what it described as misleading reports.
While acknowledging price volatility, the NMDPRA maintained that it will continue to monitor market trends closely to prevent supply disruptions and curb profiteering.
The authority also reaffirmed its commitment to ensuring energy security and commended operators across the aviation fuel supply chain for maintaining steady distribution.
Despite the regulator’s assurances, tension remains within the aviation sector, where operators are grappling with rising operating costs and thinning margins leaving the coming days critical for both airlines and regulators.
