The price of Jet fuel has almost tripled in Nigeria over the last year, and now carriers are considering reducing flights into the country due to a fuel crisis that local media has called \u201cpanicked.\u201d The aviation fuel in question, Jet-A1, must be imported, and with the naira\u2019s collapse entering its third year, Muhammadu Buhari\u2019s government still cleaves to a monetary policy that makes sourcing foreign exchange almost impossible, with the requisite dollars unavailable to importers at the interbank market rate. In short, fuel service providers can\u2019t buy the stuff.
\nGhana sought to capitalize on Nigeria\u2019s woes, slashing fuel costs by 20 percent earlier this year to attract carriers, however local media have reported that similar problems have now beset Ghana.
\nAccording to The Guardian \u2013 a Nigerian news outlet, not to be confused with the British national daily \u2013 airlines with Nigerian passengers have begun to detour through Libreville, Gabon, for fuel.
\nOver the last year, the cost of aviation fuel has risen from US$0.33 to $0.86 per liter in northern parts of the country.
\nNigeria is the world\u2019s 12th largest oil producer by volume, and Nigerian carriers have pushed for government intervention, including calls for the federal government to refine the product locally. But, as with much of the country\u2019s energy ambitions, corruption and red tape are impeding progress.
\nNogie Meggison, chairman of the airline operators of Nigeria (AON), told The Guardian that, \u201cconsistent shortage of the product for airlines to conduct their operations led to reduction in operations by 50 percent.\u201d
\nMeggison added that, \u201cWe have been forced to cry out about the perennial problem at this juncture because it continues to put us in a difficult situation to go an extra mile to fulfill our obligations to our esteemed customers despite the inconveniences that go with it.\u201d
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
The price of Jet fuel has almost tripled in Nigeria over the last year, and now carriers are considering reducing flights into the country due to a fuel crisis that local media has called \u201cpanicked.\u201d The aviation fuel in question, Jet-A1, must be imported, and with the naira\u2019s collapse entering its third year, Muhammadu Buhari\u2019s[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-2039","post","type-post","status-publish","format-standard","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts\/2039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/comments?post=2039"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts\/2039\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/media?parent=2039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/categories?post=2039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/tags?post=2039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}