Fuel prices in Nigeria have surged, with aviation fuel, JetA1, reaching around N3,000 per liter, prompting warnings of potential airline shutdowns from April 20. Toni Ukachukwu, Chief Executive Officer of Aviation Africa, accused fuel marketers of manipulating the market during an appearance on Arise News. He argued that Nigeria should be shielded from global shocks such as the US-Iran conflict due to its local crude production and refining capacity, including the Dangote refinery. Ukachukwu acknowledged geopolitical influences but stated that price increases should not exceed 300%. He maintained that the current surge is unjustifiable given the country's domestic refining capabilities. Domestic and foreign airlines operating in Nigeria may suspend services if the high fuel costs persist. Ukachukwu emphasized that while some market disruption is expected, the scale of the price hike suggests artificial manipulation. The rising cost of JetA1 is now threatening the viability of air travel operations in the country.
Toni Ukachukwu claims Nigeria's local refining capacity should limit fuel price shocks, yet the JetA1 price has hit N3,000 per liter. If Dangote and other local refineries are operational, why are airlines facing a 300% increase tied to a distant conflict? Nigerian passengers and operators are left exposed despite claims of energy self-sufficiency. The gap between official assurances and market reality deepens public skepticism.
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