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The sustained slide in the value of the naira against the dollars has caused the price of aviation fuel, known as Jet A1, to skyrocket.
Before now, Jet A1 price had stabilized in recent times, selling between N220 and N255 per litre, but weekend increased to N265 following acute dollar scarcity and hitting N280 early Monday.
The naira hit an all-time low last week exchanging for between N507 to N516 to a dollar weekend. This, coupled with the scarcity, has taken effect on the prices of aviation fuel with airline operators lamenting over the weekend.
Director of Flight Operations, Azman Air, Capt. Tanko Afegbua, confirmed the development, saying “I can tell you that in Kano, the price has gone up to N280 per litre and we don’t have option than to buy it in order to keep the operations running.”
According to him, the development stemmed from the prevailing dollar shortage, just as fuel marketers complained rising landing cost.