Rising tensions between the United States (US), Israel and Iran are pushing up global oil prices and squeezing Nigeria’s aviation sector. Airlines have twice threatened to suspend operations as jet fuel costs surge, but for now, the government intervention is keeping planes in the air.
Nigeria’s Airline Operators say they narrowly avoided a shutdown for the second time in weeks. They had planned to halt flights in April, blaming soaring aviation fuel prices. The group says Jet A1 has jumped by more than 300%, from about 65 cents a litre to as high as R2.40 ($0.14).
Airlines warn the spike is unsustainable. The surge is tied to rising global crude prices, driven by Middle East tensions and fears of supply disruption through the Strait of Hormuz.
Despite being a major oil producer, Nigeria still relies on imported refined fuel. The government has stepped in with a 30 percent debt relief for airlines and is in talks with the Dangote refinery to boost local supply.
The United Nations warns that prolonged instability could disrupt global trade and slow growth. For now, flights continue, but airlines say the pressure is far from over.
–SABC–
