Air passengers in Nigeria may soon face higher ticket prices as the cost of aviation fuel, also known as Jet A1, continues to surge across the country.
Industry operators say the rising price of the product could push airfares up by about 20 to 25 per cent in the coming days, as airlines struggle with increasing operating costs.
Recent market checks show that aviation fuel prices have jumped sharply within the past two weeks, rising from around N940–N980 per litre to between N1,500 and N1,600 per litre. The increase represents roughly a 63 per cent surge over a short period.
Sources within the aviation industry said the price of the fuel has been unstable since late February, fluctuating several times. The cost currently varies across airports, with Jet A1 selling for about N1,500 per litre at the Murtala Muhammed Airport in Lagos, around N1,600 at the Nnamdi Azikiwe International Airport in Abuja, and close to N1,700 at airports in cities such as Calabar, Port Harcourt, and Kano.
Fuel remains the largest single expense for airline operations. Previously accounting for about 30 to 35 per cent of airlines’ total operational costs, the latest price surge is expected to push that share to as high as 40 to 45 per cent.
Airline executives say the development is already forcing operators to reconsider ticket pricing.
The Managing Director of Aerocontractors, Ado Sanusi, said the rise in fuel costs and other operational expenses makes a fare increase likely.
According to him, airlines purchase fuel based on prevailing market prices, and the surge in crude-related costs has directly affected aviation fuel pricing.
Similarly, the spokesperson for United Nigeria Airlines, Chibuike Uloka, said airlines are closely watching the situation and will respond to the market conditions.
He explained that the aviation industry operates within a demand-and-supply framework, meaning airlines will eventually adjust ticket prices to reflect rising costs across the sector.
Aviation analyst Samuel Caulcrick also warned that the increase in Jet A1 prices will inevitably impact fares.
He noted that fuel has overtaken maintenance as the largest expense in airline operations, meaning any major rise in fuel prices directly affects ticket prices for passengers.The increase in aviation fuel prices follows a recent spike in petrol costs after the Dangote Petroleum Refinery raised the gantry price of Premium Motor Spirit to N1,175 per litre. The adjustment marked the third upward revision in less than a week and has contributed to broader price pressures within the energy and transportation sectors.
