Federal Government don move to stabilise jet fuel price as Festus Keyamo and Nigerian Midstream and Downstream Petroleum Regulatory Authority step in to handle aviation fuel crisis, but stakeholders dey warn say the move fit affect market balance.
The intervention come as airlines dey struggle with high cost of aviation fuel, wey don sharply increase and begin affect flight operations and ticket prices across Nigeria.
Sources for the sector talk say although government want reduce pressure on airlines and passengers, any attempt to control price for deregulated market fit lead to scarcity, supply wahala and even black market activities.
Some analysts also warn say if government no careful, the move fit turn to another subsidy system, something wey go affect long-term stability of the downstream petroleum sector.
To address the issue, Keyamo hold series of meetings with airline operators, regulators and fuel marketers to find solution on supply and pricing of jet fuel.
The meeting, wey include agencies like FAAN, NCAA and other stakeholders, agree say indicative jet fuel price go range between about ₦1,760 to ₦2,037 per litre depending on location like Lagos and Abuja.
Dem also suggest say marketers should sell directly to airlines, while government agencies go work together to reduce operational cost and improve supply chain.
Meanwhile, airline operators, including Ibom Air, don raise serious concern, say cost of fueling aircraft don rise more than 300 percent within few weeks.
According to the airline, fuel cost per flight don jump from about ₦2.1 million to over ₦7.6 million, forcing airlines to consider reducing number of flights if situation continue.
Labour group Trade Union Congress of Nigeria also call on government to quickly address rising fuel prices, warning say the increase dey worsen hardship for workers and Nigerians.
TUC suggest make government use part of excess crude revenue to support local refineries and reduce cost of petroleum products, instead of allowing prices to continue rising.
Despite government effort to stabilise the aviation fuel market, experts still advise say authorities must balance intervention with market realities to avoid bigger economic problems.
