Nigerians are set to experience airfare crashes as airline operators in Nigeria confirmed a reduction in aviation fuel prices.

The development comes as the Dangote refinery began production of aviation fuel, also known as JetA1.

Obiora Okonkwo, the spokesperson for Airline Operators of Nigeria (AON), confirmed the reduction in the price of aviation fuel, Punch reported.

Since Nigeria ended subsidies on fuel last year, the prices of petroleum products have risen.

In February 2024, airline operators lamented the skyrocketing cost of aviation fuel, saying the development is crucial and requires immediate intervention to forestall the sector's collapse.

According to the airlines, the fluctuation in FX rates and the rising price of JetA1 were disrupting their operations and stability.

Dangote comes to the rescue

Legit.ng reported that aviation operators had some reprieve in April this year when the Dangote refinery announced a crash in diesel and aviation fuel prices.

The refinery slashed the price of aviation fuel from N1,300 per litre to N940, adding that the reduction applies only to customers buying five million litres and more.

The facility also partnered with MRS Oil to ensure consumers get affordable fuel in all MRS filling stations.

Foreign airlines crash airfares The development comes as foreign airlines reduced their airfares below the one charged by Nigeria airline, Air Peace.

A previous report by Legit.ng showed that foreign airlines crashed prices following the Nigerian government's payment of the FX backlog owed to them.