- The Nigerian government has expressed excitement about the close to completion of the Dangote and Port Harcourt Refineries
- It believes that both refineries will put to an end the lingering challenges of fuel scarcity and the high price of Aviation fuel
- In April, Aliko Dangote promised that the Dangote Refinery would be ready for commissioning before the end of President Buhari's tenure
Hadi Sirika, the Minister of Aviation, has said the country’s shortage of jet A1 and high cost will persist till the Dangote and Port Harcourt refineries commence operations.
He also noted that the challenges around aviation fuel will only be handled in a long-term manner once these refineries are operational.
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“The scarcity and high cost of Jet A1 in civil aviation, is not peculiar to Nigeria. It is a global phenomenon driven by many factors. Some of them include even low capacity to refine the product.
“It is also in high demand around the world, it has increased activity and increased the number of aeroplanes out there and users of this jet A1. Plus, also the Ukraine crisis and many more.
“It is a time when crude itself is so expensive today, it is in the hundreds of dollars per barrel and not only the high cost of Jet A1 product in Nigeria. Also, the peculiarity of the fact that we’re not refining the product, so to speak.
“And I did address the press a couple of days ago, saying that, by the grace of God, perhaps once the Dangote refinery is online or if the government fixes the Port Harcourt refinery, which is now ongoing, we will begin to refine this product and sell it.”
The Sun report also quoted the minister as saying as Local airlines, according to him, have agreed to designate a member or another large oil marketer to be authorized to import the product in order to manage the situation under the aegis of the Airline Operators of Nigeria.
The Minister added:
“Then also get the necessary foreign exchange for that purpose. And that will increase more supply and perhaps drive down the cost. We hope that this is a temporary thing, and hope that Jet A1 will be very available everywhere and at a very good price."
Fuel scarcity drives up the price of diesel
Meanwhile, Legit.ng previously reported that fuel scarcity had driven up the price of diesel to N550 per litre.
Buyers interviewed by Legit lamented the ripple effect of the hike in petroleum products in the country.
Michael Agwu, a businessman told Legit.ng in Lagos that what the price increase means is that it will further drive up inflation in the country.