Nigeria’s state oil company has agreed to help the country’s airlines source aviation fuel at a reduced price after they had threatened to halt all domestic flights.
The airlines said the price of fuel had tripled in just four months – partly because of the impact that Russia’s invasion of Ukraine has had on the global energy market.
The agreement followed a meeting between the Nigerian National Petroleum Corporation (NNPC), the central bank and airline representatives.
However the deal is just for three months and the airline industry still faces potential disruption and fuel price hikes.
The average cost of a one-hour domestic flight jumped from about $60 (£48) to $130 between February and May this year.
Nigeria is Africa’s top oil producer, but almost all its aviation fuel is imported because it lacks refining capacity.
