The slide in the value of the naira against the dollars has caused the price of aviation fuel, known as Jet A1, to skyrocket.
The price which stabilized in recent times, selling between N220 and N255 per litre, has increased to N265 following acute dollar scarcity.
The naira hit an all-time low last week exchanging for between N507 to N510 to a dollar. 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.
He said, “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.”
He attributed the development to dollar shortage, saying fuel marketers were complaining that the landing cost has increased.