Nigerian airlines have warned of a potential nationwide flight shutdown over soaring jet fuel prices they describe as artificially inflated, raising concerns about wider economic disruption.
Nigerian airlines have threatened to suspend operations from April 20 unless jet fuel prices are reduced, citing a sharp increase. The Airline Operators of Nigeria said prices have surged by about 270% since late February, blaming marketers for inflating costs beyond global trends.
In a letter to the Major Energies Marketers Association of Nigeria, the group described the increase as “astronomical and artificial.” “Currently, airline revenues are insufficient to cover the cost of fuel alone,” AON said. The surge follows disruptions linked to tensions affecting shipping through the Strait of Hormuz.
Airlines warned that higher fares could reduce passenger demand, while a shutdown would impact jobs and security. Data showed no March deliveries from the Dangote Petroleum Refinery to the domestic market, even as fuel exports rose. MEMAN and Dangote did not immediately respond to requests for comment.