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Keyamo Meets Oil Marketers, Airline Operators Over Soaring Jet Fuel Prices

The Minister of Aviation and Aerospace Development, Festus Keyamo, is currently meeting with a delegation from the Federal Ministry of Petroleum Resources, oil marketers, and airline operators, among others.

The meeting comes on the heels of a threat by airline operators to shut down operations due to the astronomical increase in the price of Jet A1 fuel, which is pegged at about 300 per cent.

It is also part of the Federal Government’s intervention aimed at stabilising the aviation sector and ensuring uninterrupted air transportation in the country.

Last week, the Airline Operators of Nigeria warned that airlines across the country may suspend operations over what it described as an “astronomical and unsustainable” rise in the price of aviation fuel.

In a letter dated April 14, 2026, addressed to the Executive Secretary of the Major Energies Marketers Association of Nigeria, Clement Isong, the operators said the cost of Jet A1 had surged from ₦900 per litre as of February 28 to ₦3,300 per litre—an increase of over 300 percent within weeks.

The group described the spike as “artificial” and far above global trends, noting that international crude oil prices had risen by only about 30 percent within the same period.

According to the operators, airlines have absorbed the rising costs for more than four weeks out of “patriotism and in the spirit of service to the nation,” but warned that the situation is no longer sustainable.

“Airline revenues are insufficient to cover the cost of fuel alone,” the letter stated, adding that continued operations are becoming increasingly unviable.

The operators also accused fuel marketers of “decimating the aviation industry,” warning that the situation poses wider risks to Nigeria’s economy, safety, and national security.

The AON disclosed that the impact of the price surge is already being felt across the sector, revealing that one airline has grounded all operations since March 13, 2026, due to the rising fuel cost. It warned that more carriers could follow if urgent action is not taken.

“Aviation remains a sector of strategic national importance,” the letter added, cautioning that the current pricing regime is “unhealthy and detrimental to national wellbeing.” (Channels TV)