Airline operators in Nigeria are preparing to increase ticket prices following a significant surge in aviation fuel costs, which have risen by nearly 63 per cent in under two weeks.
Industry sources revealed that the price of Jet A1 fuel has jumped from between N940 and N980 per litre to N1,500–N1,600 per litre, depending on location. At some airports, such as Margaret Ekpo International Airport, Port Harcourt International Airport, and Mallam Aminu Kano International Airport, prices have reached N1,700 or more per litre.
Aviation fuel, which previously accounted for about 30–35 per cent of total airline operational costs, is now projected to represent 40–45 per cent, putting additional pressure on carriers to pass costs onto passengers.
The rise in aviation fuel follows a broader increase in petroleum product prices, including a recent adjustment by Dangote Petroleum Refinery, which raised the price of Premium Motor Spirit to N1,175 per litre and diesel to N1,620 per litre.
Speaking to reporters, the Managing Director of Aerocontractors, Ado Sanusi, confirmed that airlines are monitoring the situation and may increase fares in response. “Everything has increased, and we are buying in the same percentage that the crude went up. So yes, we should expect flight ticket increases just in adherence to the market dictate,” he said.
Similarly, United Nigeria Airlines spokesperson Chibuike Uloka described the expected fare adjustments as a response to market dynamics. “Whether we are increasing ticket fares or not, obviously we are watching already, and we would also react very soon, just like others in the same market,” he said.
Industry expert Samuel Caulcrick noted that aviation fuel has overtaken maintenance as the single largest cost component for airlines. He projected that ticket prices may rise by 20–25 per cent in the coming days if fuel prices remain high.
With aviation fuel now the dominant operational expense, passengers can expect a near-term adjustment in fares as airlines align their pricing with the sharp increase in costs.
