Nigeria experienced a significant 87 percent decrease in spending on kerosene type jet fuel importation in the first quarter of 2024, dropping to N31 billion from N239.18 billion in the previous quarter (Q4’23).

The National Bureau of Statistics (NBS) report on 'Foreign Trade in Goods Statistics' for Q1’24 highlighted that this product was one of the top traded items in West Africa during that time frame.

Jet A-1 is a kerosene-based fuel suitable for various jet aircraft, including civil and military models, helicopter turbine engines, turboprops, and compression-ignition piston engines.

In March 2024, the Director of Public Relations and Information, AVM. Edward Gabkwet, reported that the Chief of Air Staff, Air Marshal Hassan Abubakar, expressed concerns regarding the rising fuel prices and the implementation of surcharges. He appealed to the National Assembly to grant permission for the Air Force to import Jet A-1 fuel to ensure the continuity of essential air operations.

According to Abubakar’s statement, the current cost of Jet A-1 fuel stands at approximately N1,200 per liter, significantly higher than the budgeted amount of N360 per liter. This substantial deviation is adversely impacting the operational effectiveness of the Nigerian Air Force (NAF).

This development occurs against the backdrop of a shipment of jet fuel to Europe by Dangote Refinery, with stakeholders anticipating that domestic distribution will alleviate the issue of high product costs in Nigeria.

The first shipment, which was loaded onto the vessel “Doric Breeze,” departed from the Lekki Free Zone in Lagos on May 27th and is currently en route to Rotterdam, Netherlands, as reported by S&P Global Commodities at Sea.

The cargo, consisting of 45,000 metric tons of jet fuel, was awarded to BP as part of a larger tender of 120,000 metric tons issued by the refinery. Additionally, Spanish refiner Cepsa secured a portion of this tender.