News
Increase in airfares looming as aviation fuel hits N1,835 per litre
Airlines in Nigeria are facing heavy operational pressures as the price of aviation fuel continues to surge, with Jet A1 now selling at N1,835 per litre in Kano, N1,820 in Abuja, N1,815 in Port Harcourt, and N1,780 in Lagos.
Industry experts warn that the steep fuel costs are likely to translate into higher airfares, potentially reducing passenger traffic, especially for leisure travel.
According to the spokesman, Airline Operators of Nigeria, (AON) Prof. Obiora Okonkwo, the increase in the cost of aviation fuel could push an upward review of the air fare after consideration by the regulatory-Nigeria Civil Aviation Authority (NCAA).
“As regards to us Nigeria, before the war we were getting aviation fuel at about N1000 a litre, just plus minus and as we speak right now, the last fuel we had this evening was going for about N1800.
“We’re still battling how to deal with it. There are rules. Most of the airlines from the rule regulatory requirement should submit their inventory to NCA, which is a regulatory body, for any price change for anything not less than two weeks before implementation.
“So I guess in this inventory by some of the member airlines of the airline, they would have had some rates or fares submitted quite a long time ago. Now, the bigger challenge we are having here is that this is really not the highest season for air travelers. Even after Christmas, you usually have a great dive to about 40 to 60 percent airpax load,” he said in an interview with Arise TV.
He described the increase as quite astronomical, saying it was inevitable due to the war.
“Obviously it has been a worldwide phenomenon and when the whole world woke up to that world that started a few days ago, no doubt that it was very predictable that anything that happens in Iran will definitely have an effect on the oil price.
“So aviation is very vulnerable. It’s one business that even the weather affects and when it does, obviously all the other factors are changed immediately,” he said.
Aviation analyst Capt Samuel Caulcrick explained that the sharp rise in Jet A1 prices is closely linked to Nigeria’s dependence on the dollar for petroleum transactions, despite the local production of fuel.
“If not for the dollar, the Jet A1 you are talking about would be around ?900,” Caulcrick said, noting that both suppliers and refiners, including the Dangote Refinery, must exchange naira proceeds into dollars to purchase crude oil at international market rates. “Even crude from Nigeria is sold at the dollar rate. To restock, operators must buy in dollars; otherwise, they risk going out of business.”
Caulcrick highlighted that the Federal Government, through the Central Bank of Nigeria (CBN), has been intervening to prevent the naira from depreciating too quickly. He noted that without intervention, the naira could have fallen to N1,000 to the dollar, further escalating aviation fuel prices.
“The high cost of fuel will translate into higher ticket prices,” he said, adding, “Business travellers may not be affected, but leisure travellers will feel the pinch. Lower affordability could reduce seat occupancy and strain airline revenues.”
The analyst urged the CBN to implement measures that would stabilise the naira, explaining that a stronger currency would reduce the cost of dollars in the market and, by extension, aviation fuel prices. (Daily Trust)
Finally, Minister of Power Adebayo Adelabu has resigned from President Bola Tinubu’s cabinet.
In a resignation letter dated April 22, 2026, and addressed to President Bola Tinubu, Adelabu said the decision would take effect from April 30, 2026, to allow for a smooth transition.
The letter, routed through the Office of the Secretary to the Government of the Federation, stated that he was stepping down with “a deep sense of honour and profound gratitude.”
He wrote, “I write with a deep sense of honour and profound gratitude to formally tender my resignation as the Honourable Minister of Power of the Federal Republic of Nigeria. This resignation is to take effect on 30th April 2026, in order to allow sufficient time for a smooth and orderly handover of responsibilities.”
Adelabu thanked the President for the opportunity to serve, describing his appointment as a privilege.
He said, “Your Excellency, I remain sincerely grateful for the privilege and confidence you reposed in me by appointing me to serve our great nation in this capacity.
It has been a rare honour to contribute to national development under your leadership and to play a role in advancing reforms in the power sector—one of the most critical foundations of Nigeria’s industrial growth and economic transformation.”
By Gloria Ikibah
As part of efforts to strengthen the country’s security architecture, President Bola Tinubu, has sent a formal communication to the House of Representatives on seeking legislative approval for the repeal and re-enactment of the Nigerian Police Trust Fund (NPTF) Establishment Act, 2025.
The request which was transmitted to the House for consideration and passage on Wednesday at plenary, underscores the need to improve the management and administration of the fund, enhance police training, and provide modern equipment for the Nigeria Police Force.
According to the letter,, the proposed amendment is aimed at boosting the operational capacity, accountability, and sustainability of the Police Trust Fund in line with current security challenges.
The President urged lawmakers to give the bill expeditious consideration, as the said the reform will improve the welfare of police personnel and support skill development across the force.
In another development, the House Committee on Rules and Business has moved to tighten legislative discipline, directing all standing and ad hoc committees to submit reports on bills and motions within set timelines in line with House procedures.
Chairman of the committee, Rep. Francis Uwaive, reminded all committee chairmen to treat all assigned matters within 30 days, with the risk of losing such assignments after 60 days if no progress is made, except where a short extension is granted.
A firm deadline has also been set for all outstanding reports, with the end of April 2026 as the cut-off point, and non-compliance attracting automatic discharge.
Amid the formal proceedings, lawmakers briefly paused to celebrate two members marking their birthdays, acknowledging their contributions to public service and national development.
The mood later shifted as the House paid tribute to a former member of the Fifth Assembly, observing a minute’s silence in his honour following his passing after a prolonged illness.
He was remembered for his dedication and service to his constituents in Benue State, with colleagues noting that his death represents a significant loss to the legislature and the country.
Iran’s Revolutionary Guards said on Wednesday that their naval forces stopped two ships attempting to cross the Strait of Hormuz and directed them to the territorial waters of the Islamic Republic.
“The Islamic Revolutionary Guard Corps naval force this morning identified and stopped in the Strait of Hormuz two violating ships,” the Guards said in a statement.
“The two offending ships… were seized by the IRGC’s naval forces and directed to the Iranian coast.”
They identified one ship as “MSC-FRANCESCA”, which they said belonged “to the Zionist regime” in reference to Israel, and the other as “EPAMINONDAS”, which they said was “tampering with navigation systems and jeopardising maritime security.”
The Guards further warned against any action against the regulations imposed by the Islamic republic in the strait “as well as activities contrary to the safe passage” through the waterway.
Tehran has said vessels must seek permission to leave of enter the Gulf through Hormuz, through a route that in peacetime accounts for a fifth of the world’s oil and gas exports along with other vital commodities.
Source: AFP
BREAKING: Finally, Power Minister, Adelabu resigns from Tinubu’s cabinet
Reps Begin Review of Police Trust Fund Law, Tighten Timeline for Committee Work
Iran Seizes Two Ships attempting to cross Strait of Hormuz
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