In a significant move towards enhancing local content and reducing foreign exchange pressure, Nigerian airline operators have decided to source their jet fuel exclusively from the Dangote Refinery. This announcement was made by the Honourable Minister of Aviation, Festus Keyamo, during an interview on Channels TV.
The decision, which has received the Minister’s full support, marks a pivotal shift in the aviation sector’s fuel procurement strategy. By opting for locally refined jet fuel, the airline operators aim to mitigate the impact of international market fluctuations and stabilize operational costs.
Nigerian airlines will now exclusively purchase Jet A1 fuel from the Dangote Refinery, a move expected to significantly reduce reliance on imported fuel.
This initiative is anticipated to ease the pressure on Nigeria’s foreign exchange reserves and provide a more stable and predictable pricing structure for jet fuel.
The federal government, through the Ministry of Aviation, has endorsed this decision, aligning with the broader economic strategy of promoting local industries and reducing import dependency.
“The airline operators, with my blessing, have decided to exclusively buy Jet A1 fuel from the Dangote Refinery. This decision is timely, especially with the recent implementation of the naira-for-crude agreement with Dangote.
The Dangote Refinery, which began operations earlier this year, is poised to become a major player in the global oil market. With a capacity of 650,000 barrels per day, it is the largest refinery in Africa and one of the largest in the world. This partnership with Nigerian airline operators underscores the refinery’s critical role in the nation’s economic development.