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AVIATION FUEL: STAKEHOLDERS AGREE ON THREE-MONTH SUPPLY AT ₦480/LITRE

The House of Representatives has held a stakeholder meeting with the Nigerian National Petroleum Company Limited (NNPC) and domestic airline operators to resolve the crisis trailing the aviation fuel price increase

It was therefore agreed that the NNPC would supply Jet-A1 to marketers nominated by airline operators for a period of three months at ₦480 per litre, pending when the carriers would be granted licences to import the commodity.

The Speaker of the House, Femi Gbajabiamila, said that in the mid-term to long-term, the Airline Operators will begin or commence the process of applying for license to be able to import their own jet fuel so that it will remove middlemen or the vagrancies of it, and they will know the landing cost and how it will assist you in their business.

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“According to the CBN governor, there are six million litres available now at ₦480. You will get an allocation in the next three months through the companies (marketers) that you have nominated so that you would not come back and say jet fuel is now a certain amount and it is the fault of the NNPC. You have nominated those people that are selling to you”, Gbajabiamila said.

The meeting also agreed that the House Committee on Aviation should be part of the further talks between oil regulators, aviation regulators and the airline operators.

It will be recalled that Airline operators had last week threatened to halt their services over soaring aviation fuel prices, which according to them, had risen from ₦190 to ₦700 per litre.

The Speaker of the House, Femi Gbajabiamila; and Deputy Speaker, Ahmed Wase, presided over the meeting that lasted about four hours, with the Governor of the Central Bank of Nigeria, Godwin Emefiele; and the Group Managing Director, Nigerian National Petroleum Company Limited, Mele Kyari, among others in attendance.

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