The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has assured the public of adequate aviation fuel supply across the country, dismissing reports of scarcity and inflated prices of Jet A1.
The regulator said current stock levels remain sufficient to meet national demand, adding that there is no cause for concern over availability.
In a statement issued on Friday by its Director of Public Affairs, George Ene-Ita, the authority disclosed that Nigeria currently holds 12 days of inland stock and 62 days of refinery stock, bringing total sufficiency to 74 days.
The NMDPRA also clarified that aviation fuel remains fully deregulated, with prices determined by market forces rather than government control.
It stated that the ex-gantry price of Jet A1 at the Dangote Petroleum Refinery and Petrochemical Company stood at ₦1,879 per litre as of April 16, slightly below the international indicative cost of about ₦1,900 per litre in Lagos.
According to the authority, nationwide retail prices as of April 17 ranged between ₦1,966 and ₦2,800 per litre, noting that claims of prices rising to about ₦3,300 per litre were inaccurate and not reflective of current market realities.
The NMDPRA further reiterated its commitment to ensuring energy security, maintaining stable supply, and preventing market abuses within the downstream petroleum sector.
SOURCE: theguildng.com