Oil marketers and airine operators meeeting was inconclusive as they failed to agree on a new pricing template for aviation oil.
Airline operators had at the close of last week threatened to shut down operation following the skyrocketing price of aviation fuel known as Jet A1.
A meeting of the Airline Operators of Nigeria (AON) and the aviation fuel marketers to develop a new pricing template for the Jet fuel which has disrupted flight operations in the last few weeks ended without the two parties arriving at a favourable pricing framework.
The Executive Director, Distribution Systems, Storage & Retailing Infrastructure of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Ogbugo Ukoha, coordinated the meeting held physically and virtually. Also in attendance were airline operators and many fuel suppliers as well as the Group Executive Director, Downstream of the Nigerian National Petroleum Corporation (NNPC), Mr. Adeyemi Adetunji.
The latest meeting was a follow-up to the stakeholders’ meeting held at the instance of the House of Representatives where it was agreed that jet fuel would be sold at N500 per litre for three days while operators would be given license to import fuel.
To come up with an acceptable pricing template, the AON and the fuel marketers represented by the Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and the NNPC representatives met and both parties made their positions known.
Chairman of United Nigeria Airlines, Chief Obiora Okonkwo, who spoke on behalf of the airlines, insisted that buying fuel for over N500 per litre is not sustainable, saying no Nigerian would be able to fly if the airlines increase ticket fares.
