Nigeria aviation shutdown - fuel price rises
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Nigeria aviation shutdown - fuel price rises
This is the news item I saw this morning..
https://www.aljazeera.com/news/2022/...ng-fuel-prices
Have a few friends there now on contract work so a bit concerned.
https://www.aljazeera.com/news/2022/...ng-fuel-prices
Nigerian airlines are to suspend all domestic flights from Monday over a fourfold increase in jet fuel prices, an umbrella organisation of operators said on Saturday.
The Airline Operators of Nigeria said the price of jet fuel had jumped from 190 to 700 Nigerian naira per litre (from $0.45 to almost $1.70). The rise in jet fuel prices is primarily caused due to the Russian invasion of Ukraine in February.
The Airline Operators of Nigeria said the price of jet fuel had jumped from 190 to 700 Nigerian naira per litre (from $0.45 to almost $1.70). The rise in jet fuel prices is primarily caused due to the Russian invasion of Ukraine in February.
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There appears to have been a change of heart
Nigerian airlines suspend plans to ground local flights over cost of jet fuel
By Camillus Eboh and Macdonald Dzirutwe
Reuters 2022.05.08
ABUJA — Nigerian airlines have suspended plans to ground all local flights due to the soaring cost of jet fuel just hours before the move was due to take effect, the airline operators association said on Sunday..
I came across the update while looking further into the domestic jet fuel price issue.
I do not see recent massive increases in Jet A. I DO see a history of devaluations of Nigeria's currency, the Naira, since 2020.03.
Despite being a major oil producer, apparently Nigeria imports its jet fuel and pays in foreign currency, presumably dollars.
Nigerian airlines suspend plans to ground local flights over cost of jet fuel
By Camillus Eboh and Macdonald Dzirutwe
Reuters 2022.05.08
ABUJA — Nigerian airlines have suspended plans to ground all local flights due to the soaring cost of jet fuel just hours before the move was due to take effect, the airline operators association said on Sunday.
I came across the update while looking further into the domestic jet fuel price issue.
I do not see recent massive increases in Jet A. I DO see a history of devaluations of Nigeria's currency, the Naira, since 2020.03.
Despite being a major oil producer, apparently Nigeria imports its jet fuel and pays in foreign currency, presumably dollars.
