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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)
By Gloria Ikibah
The House of Representatives has given the green light to President Bola Ahmed Tinubu’s request to secure more than $516 million in external financing, paving the way for a major infrastructure push under the current administration.
The approval was granted during Tuesday’s plenary in Abuja following the consideration of a report presented by Abdullahi Rasheed, deputy chairman of the House Committee on Aids, Loans and Debt Management.
The funding, arranged through a syndicated facility led by Deutsche Bank AG, is earmarked for the development of key sections of the ambitious Sokoto–Badagry Super Highway project.
The proposed financing will specifically support sections 1, 1A and 1B of the road, covering roughly 120 kilometres in the first phase of construction. The request was submitted to the National Assembly in line with statutory provisions governing public borrowing.
The highway scheme, a centrepiece of the administration’s economic agenda, is designed to improve connectivity across several states and streamline the movement of goods along critical trade routes. Stretching an estimated 1,000 kilometres, the corridor is expected to link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun and Lagos, connecting Illela in the north to Badagry on the Atlantic coast.
As part of the financing structure, the loan is backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit, providing an additional layer of assurance for lenders.
The Federal Government is also expected to commit substantial counterpart funding exceeding ₦265 billion to cover land acquisition, compensation and associated infrastructure costs.
The borrowing arrangement is structured over a nine-year period, including a three-year grace window, with interest tied to the Chicago Mercantile Exchange SOFR benchmark plus a margin of 5.3 per cent annually.
The Federal Executive Council had earlier endorsed the financing plan, clearing the path for legislative approval and the next phase of implementation.
By Gloria Ikibah
Nigeria has condemned the killing of Mali’s Defence Minister, Lieutenant General Sadio Camara, describing the attack as a tragic blow to regional stability and a stark reminder of the growing threat of terrorism across West Africa.
In a statement issued from Abuja, by Spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa, the expressed outrage over the minister’s death following terrorist attacks on 25 April 2025, while extending condolences to the government and people of Mali.
“The Federal Government of Nigeria condemns in strong terms the tragic killing of the Minister of Defence and Veteran Affairs of the Republic of Mali, Lieutenant General Sadio Camara, following the terrorist attacks of 25 April 2025,” the statement read in part.
Nigeria described the loss as particularly painful given the timing, noting that Mali is navigating a delicate period in its national history.
“Nigeria expresses its deepest sympathies to the bereaved family, the Malian Armed Forces, and the Government and people of Mali for this grievous loss at a critical moment in the nation’s history.
“In times such as these, when the fragility of human life is laid bare by violence, the bonds that unite nations are felt most deeply,” the statement continued.
Reaffirming its solidarity, the Nigerian government emphasised shared regional ties and resilience in the face of adversity.
The government also used the moment to condemn a broader wave of violence, pointing to recent attacks across Mali that have resulted in significant casualties and destruction.
“Nigeria stands in solidarity with Mali and reaffirms the enduring ties of brotherhood, shared destiny, and collective resilience that define the African spirit.
“The Federal Government of Nigeria condemns the cowardly acts perpetrated by terrorist groups in different parts of the country in recent days which have resulted in the loss of lives and properties.
“Such acts not only threaten national stability but also undermine the shared values of peace, dignity, and coexistence upon which our societies are built,” the statement said.
Calling for a united response, Nigeria stressed the need for sustained cooperation among nations to tackle extremism.
Nigeria further reiterated its backing for Mali’s efforts to restore stability and defend its sovereignty, pledging continued collaboration within regional and international frameworks.
“Terrorism, in all its forms and manifestations, remains a common adversary that demands unified resolve, sustained cooperation and reaffirmation of our shared humanity to tackle.
“Nigeria reiterates its support to the Republic of Mali in its efforts to safeguard its sovereignty, preserve its territorial integrity, and restore lasting peace and security,” it said.
“Nigeria remains committed to working with Mali and other partners within regional and international frameworks to confront the scourge of terrorism and to promote stability across the Sahel and the wider West African sub-region”, the statement added.
As the region grapples with persistent insecurity, Nigeria urged stronger global solidarity, stressing that peace in one nation is closely tied to peace in another.
“At this moment of mourning, Nigeria renews its call for strengthened solidarity among nations, guided by the principles of mutual respect, collective security, and the recognition that the peace of one is inseparable from the peace of all”, the statement further read.
The African Democratic Congress (ADC) led by David Mark has written to the Chief Justice of Nigeria, Olukayode Ariwoola, seeking an urgent hearing and judgement from the Supreme Court over the lingering leadership crisis in the party.
In a letter dated April 28, the group urged the CJN to intervene by constituting a panel of the Supreme Court of Nigeria to hear and determine the dispute without further delay.
The group expressed concern that the prolonged legal battle over the party’s leadership has continued to create uncertainty within its ranks, affecting its activities and preparations ahead of future political engagements.
The letter said the matter requires urgent judicial attention in the interest of justice and internal party stability.
“The continued delay in resolving this dispute is detrimental to the party and its members nationwide,” the faction stated.
They further appealed to the CJN to use his constitutional powers to ensure that the case is expedited at the apex court.
The leadership tussle within the ADC has been the subject of multiple legal proceedings, with opposing factions laying claim to the party’s structure and control.
Reps Clear $516m Foreign Loan for Flagship Highway Project
Nigeria Denounces ‘Cowardly’ Killing of Mali Defence Chief, Urges United Front Against Terror
