Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel, also known as Jet A1, from ₦1,750 to ₦1,650 per litre.

The company disclosed the development in a statement issued by its media team on Tuesday, saying the reduction is aimed at easing the financial burden on airline operators and ensuring steady fuel supply across the country.

According to the statement, the refinery also introduced a 30-day interest-free credit facility for marketers and airline operators, backed by bank guarantees.

The company further announced a transition from a dollar-based pricing structure to a naira-denominated model for aviation fuel transactions.

The latest intervention comes amid concerns from stakeholders in the aviation sector over the rising cost of operations, particularly the increasing price of Jet A1 fuel, which accounts for a major share of airline expenses.

Industry operators have repeatedly warned that soaring aviation fuel prices were putting pressure on domestic carriers and threatening the sustainability of flight services.

The refinery stated that the price reduction is expected to lower fuel procurement costs for airlines, improve operational stability, and support efforts to reduce airfares for passengers.

Nigerian Midstream and Downstream Petroleum Regulatory Authority had earlier warned oil companies operating in free trade zones without the required permits that they risk sanctions from the regulator.