The Federal Government of Nigeria has announced that the Dangote Refinery has been granted exclusive authorization to supply jet fuel, or Jet A1, to all aircraft operating in the country. This significant development was revealed by the Minister of Aviation, Festus Keyamo, during an interview on Channels TV on Tuesday.
Keyamo explained that the airline operators have agreed to make the 650,000 barrels-per-day refinery their sole supplier of jet fuel, with his endorsement and support. “The airline operators just met recently. With my blessing, it’s a decision from the airline operators in Nigeria that they should only buy from Dangote refinery Jet A1,” he stated.
Keyamo further emphasized that the new arrangement allows for a naira-for-crude purchase agreement with Dangote, eliminating the dollar component. “It’s all Naira, no Dollar component,” he explained, highlighting the significance of this shift.
The timing of this move aligns with the recent implementation of the naira-for-crude agreement between Dangote and the federal government. Keyamo stressed that this arrangement would lessen the strain on foreign currency, a crucial step for Nigeria’s economy.
He also pointed out that with this agreement, the price of jet fuel will no longer be subject to the international market’s fluctuations. “The price will no longer be subjected to the varying factors of the international market, nor the headwinds of oil price in the international market. It will be in local currency so we can be clear as to the cost of it. We will buy in naira. I’m sure we are going to have access to cheaper Jet A1 fuel,” Keyamo stated.
This exclusive supply deal is expected to stabilize the aviation sector, offering more predictable and affordable pricing for airline operators while supporting local economic policies. The partnership marks a crucial step toward reducing Nigeria’s reliance on foreign exchange for critical aviation supplies.
I dont think its fair for one company to have exclusive rights. What about competition and consumer choice?
I dont think its fair for one company to have exclusive rights. What about competition and fair prices for consumers?
I dont get why Dangote gets exclusive rights. What about fair competition? This seems fishy. #CorruptionAlert 🤔👀
Big companies often have an edge. Its unfair but sadly common in the business world.
I cant believe theyre giving Dangote exclusive rights! What about competition and fairness? This smells fishy to me.
This sounds like a monopoly in the making! Shouldnt there be more competition to benefit the consumers?
This decision is a game-changer for the economy, but shouldnt one company have a monopoly? What about fair competition?
I cant believe theyre giving Dangote exclusive rights! What about fair competition and other potential suppliers? This seems fishy.
Im honestly not sure how I feel about this. On one hand, it could lead to efficiency, but on the other hand, it seems pretty monopolistic.
Big companies always find a way to dominate. Its a dog-eat-dog world out there.
This is outrageous! Why should one company have exclusive rights? What about fair competition and the consumers best interest?
I think this exclusive deal is unfair to other suppliers. It limits competition and could lead to higher prices for consumers.
This reeks of corruption! Why is one company getting exclusive rights? What about fair competition and transparency? Something fishy is going on here.
I dont understand why only Dangote gets exclusive rights. What about other companies? Seems unfair. #EqualOpportunity #CompetitionNeeded
This decision is unfair to other fuel suppliers in Nigeria. Dangote shouldnt have exclusive rights. Competition is key!
I think its unfair for one company to have exclusive rights. What about competition and consumer choice? Seems fishy to me.
I dont think its fair for one company to have exclusive rights. What about competition and ensuring the best quality and prices for consumers?
I cant believe theyre giving Dangote exclusive rights! What about competition? This smells fishy to me. 🤔
Exclusive rights can stifle fair competition. Something doesnt seem right here. Time to dig deeper.
This is outrageous! Why should one company have exclusive rights? What about competition and fair market access? Unfair!
Agreed! Monopolies stifle innovation and limit choices for consumers. Time to level the playing field.
I cant believe theyre giving Dangote exclusive rights! What about competition? This smells fishy. #corruption #unfairadvantage
I think its unfair to give exclusive rights to one company. What about competition? This could limit options and drive up prices.
I dont think its fair for one company to have exclusive rights. What about competition and fair pricing for consumers?