The Chief Executive Officer of Air Peace, Allen Onyema, has disclosed that the Nigerian airlines risk going under in the next three days if the price of aviation fuel, also known as Jet A1 is not controlled.

Mr. Onyema, while appearing before the House of Representatives Committee investigating the increase in price of the fuel, said the operators now buy the fuel for N670 per litre from the N190 per litre they used to buy.

He noted that despite the increment in air tickets by the airlines, they are still running at huge losses and owing debt.

Onyema said the NNPC limited should be asked to bring down the price of the fuel to N200 per litre so that the operators can continue to operate.

Responding to the request, NNPC Limited CEO, Mele Kyari said the request will not be possible. Kyari stressed that the fuel is a deregulated product and the landing cost is N418 per litre.

“The Chairman of Air Peace said they should bring it to N200 per litre.

“As of today, the landing cost of ATK is N418 per litre, we have no control over that, the only way is to subsidize it,” Kyari said.

Other operators who spoke at the hearing also echoed what Onyema said.

The CEO of Overland, Captain Edward Boyo, said the country risks putting planes at risk if action is not taken to regulate the price of Jet A1 fuel.

In his ruling, the Deputy Speaker, Idris Wase said the Committee will meet again on Monday to hear from the fuel marketers.

He directed the NNPC limited boss to work with all relevant authorities to crash the price of jet fuel.

BeeBeeOoh:


https://dailypost.ng/2022/03/10/jet-fuel-now-n670-per-litre-from-n170-airline-operators-cry-out/

ogododo:


Bubu never start with una.

kennethfranc:
Indeed there was a country

Purelylight:
People are really suffering

Ventura1:
They should increase the cost of their services as well. The situation is not peculiar to Nigeria, the increase in crude oil prices is responsible, why cry woof when there's none.
My worry is the scarcity of bread that is looming.

dele1727:


The word in the bible holds true for many Nigerians...
My people perish for lack of knowledge

A lot of people just live on this earth without understanding their environment....

Nigeria and the Government is the cause of everything wrong with them and their lives ....

https://www.caranddriver.com/news/a39338671/us-gas-prices-skyrocketing-future/..

Due to the sanctions the USA and its Allies are leveling against Russia the second largest producer of crude oil ....The cost of all the components of crude oil has gone up by as much as 50% in majority of countries that import stuffs like Aviation fuel, diesel and petrol....

In Nigeria... unlike sensible countries.... petrol is still been subsidies but kerosene and diesel is not and therefore when there is an increase in the open market....it shows here....


Nigerians should learn to seek for the right information instead of just shouting up and down like fools without knowledge cursing themselves and their country...

The bible says my people perish for lack of knowledge....what you don't know will make everyone know you are a fool

But if Petrol can be sold in the USA that has oil just like majority of Nigerians claim they have for $4-$6 per litre which is approximately 1800-2500 naira per litre... I don't understand why we still selling at 165 naira per litre ....

It's suicide and we are killing ourselves gradually....