Fed Govt to liberalise diesel, aviation fuel imports
The Nigerian National Petroleum Company (NNPC) Limited is soon to lose its monopoly of the importation of Automotive Gas Oil (AGO) otherwise known as diesel and Jet-A1 (aviation fuel). Petroleum Resources Minister of State Timipre Sylva said yesterday at the ministerial meeting on the Reactivation of the Trans-Saharan Gas Pipeline (TSGP) Project in Abuja,saying the Federal Government was set to decentralise the process. The decision is to check the rising costs of the products and their resultant economic hardship. Recall that the Airline Operators of Nigeria(AON) had in March 2022 threatened to shut down flights over the rising cost of Jet A-1. As of then, it sold for over N700 per litre, a development that also led to a 100 per rise in the cost of local air travel. Today, diesel sells for close to N820 per litre. When the National Assembly intervened, the association demanded and got the support to be granted a waiver to import aviation fuel for its members. At a meeting with NNPC Limited on March 14, 2022, the Group Managing Director, Mele Kyari, informed the House of Representatives that the licence would be granted to the operators to check the rising cost of the product and keep the airlines afloat.
Fed Govt to liberalise diesel, aviation fuel imports
The Nigerian National Petroleum Company (NNPC) Limited is soon to lose its monopoly of the importation of Automotive Gas Oil (AGO) otherwise known as diesel and Jet-A1 (aviation fuel). Petroleum Resources Minister of State Timipre Sylva said yesterday at the ministerial meeting on the Reactivation of the Trans-Saharan Gas Pipeline (TSGP) Project in Abuja,saying the Federal Government was set to decentralise the process. The decision is to check the rising costs of the products and their resultant economic hardship. Recall that the Airline Operators of Nigeria(AON) had in March 2022 threatened to shut down flights over the rising cost of Jet A-1. As of then, it sold for over N700 per litre, a development that also led to a 100 per rise in the cost of local air travel. Today, diesel sells for close to N820 per litre. When the National Assembly intervened, the association demanded and got the support to be granted a waiver to import aviation fuel for its members. At a meeting with NNPC Limited on March 14, 2022, the Group Managing Director, Mele Kyari, informed the House of Representatives that the licence would be granted to the operators to check the rising cost of the product and keep the airlines afloat.