Asharami Synergy Limited, a Sahara Group downstream company in Nigeria has said that stability in the foreign exchange market would impact the aviation fuel market positively by reducing the cost of the product.
The Head, Downstream Africa, Sahara Group, Foluso Sobanjo,
stated this recently at the International Air Transport Association’s Aviation
Energy Forum held in Vienna, Austria.
In a statement made available to on Monday by the Sahara
Group’s Head of Corporate Communications, Bethel Obioma, Sobanjo while speaking
on the growth factors for the Nigerian market, said the aviation fuel sector
would benefit from adequate refining capacity, forex stability, cheaper sources
of funds and infrastructure development.
He noted, “Achieving stability in the FX market would impact
the Jet fuel market positively by reducing product cost, solving the liquidity
issues facing the airlines and help with the repatriation of the investment
made by foreign airlines which would spur further investments.”
According to him, suppliers need to be able to access credit
at the right price as this would help to facilitate investments in essential
infrastructure like tank farms, bowsers, and trucks.
“This would enhance operational capabilities and logistical
efficiency, thereby supporting long-term growth and healthy competitiveness in
the sector,” he stated.
Sobanjo also called for investment in infrastructure through
sundry Public-Private Partnerships and collaboration among all stakeholders,
including IATA, airlines, the Federal Airport Authority of Nigeria, and
petroleum marketers to drive sustainable regulation, growth, and development of
the sector.
While attributing the sterling performance in the aviation
fuel market to the Asharami’s commitment to safety, technology-driven solutions
and environmental sustainability, Sobanjo maintained that the firm had a
pedigree of exceptional performance in the market that spans two decades in
Nigeria.
“Asharami Synergy is the leading aviation fuel supplier in
Nigeria with over 20 per cent of the market share. We have several
certifications from the International Organisation for Standardisation in
recognition of our commitment to excellence, quality, and safety. With current
storage capacity of about 31 million litres owned and operated by Asharami
across the nation, a fleet of 20 bowsers, and ongoing plans for capacity
expansion, we keep innovating to deliver outstanding Jet A1 solutions,” he
disclosed.
Sobanjo added that Asharami Synergy offers solutions that
resonate with the operations of local and international airlines in Nigeria.
“Our distinctive mark of excellence and safety make Asharami
the responsible provider of choice for aviation fuel in the Nigerian market,”
he said.
Also speaking in Vienna, the Chief Executive Officer,
Asharami Synergy, Nomnso Dike, said the company had been a strategic partner
with IATA since 2009, adding that its diversified product supply chain
facilitates availability and competitive pricing in the market.
“We are constantly investing in technology to drive
efficiency in our business hence the adoption of the solution that increases
efficiency through digitalised tracking of our into-plane fueling operations,
whilst also helping to reduce CO2 emissions.
“In addition, our dashboard tracks and analyses our
customers’ consumption patterns, thereby enabling us to forecast demand
accurately and ensure consistent product availability to meet all our supply
obligations. This ensures our customers can rely on Asharami for responsible
and seamless supply,” he stated.
The PUNCH reports that the high cost of Jet A1 is one of the
factors responsible for the high cost of flight tickets in Nigeria.
Our correspondent recalled that the aviation fuel rose from
about N300 per litre in February 2022 to about N1,000 per litre. It has since
caused a significant increase in the cost of tickets.