News Investigators/ The Nigerian government has granted the Dangote Refinery the sole right to supply Jet fuel or Jet A1, to aircraft companies operating in the country.
The minister of aviation, Festus Keyamo said airline operators have agreed to the arrangement to allow the refinery serve as their sole supplier of jet fuel, with his approval and cooperation.
Mr. Keyamo made the disclosure during an interview on Channels TV.
According to him: “The airline operators just met recently. With my blessing, it’s a decision from the airline operators in Nigeria that they should only buy from Dangote refinery Jet A1,” Mr. Keyamo said.
“You can see that yesterday we started a Naira-for-crude purchase with Dangote. It’s all Naira, no Dollar component,” the aviation minister added.
He explained that the timing is good as Dangote and the federal government recently put the Naira-for-crude agreement into effect.
Mr. Keyamo stressed that this arrangement would lessen the strain on foreign currency.
“The price will no longer be subjected to the varying factors of the international market, nor the headwinds of oil price in the international market.
“It will be in local currency so we can be clear as to the cost of it. We will buy in naira. I’m sure we are going to have access to cheaper Jet A1 fuel,” Mr. Keyamo said.
