Connect with us

Business

Dangote refinery cuts aviation fuel price to N1,650

info

Published

on

Dangote Refinery 2 1024x831 1 e1778177983979.jpg

Dangote Petroleum Refinery and Petrochemicals has reduced the price of aviation fuel, also known as Jet A1, to N1,650 per litre from N1,750 per litre in a move expected to ease pressure on domestic airlines struggling with rising operating costs.

The refinery disclosed the reduction in a statement issued on Tuesday, saying the intervention was aimed at supporting airline operations and ensuring stable fuel supply across the country.

The company also announced a 30-day interest-free credit facility for marketers and airline operators backed by bank guarantees, alongside its transition from dollar-based pricing to a naira-denominated structure.

“These interventions come amid growing concerns over the rising operational costs faced by domestic carriers, with aviation fuel accounting for a significant portion of airline expenses,” the refinery said.

Airline operators have repeatedly warned that rising Jet A1 prices were pushing airlines deeper into financial strain and threatening the sustainability of flight operations.

We had extensively reported on the impact of soaring aviation fuel prices on Nigeria’s aviation sector, including increased flight delays, cancellations, operational disruptions, and growing passenger frustration across several domestic routes.

At the peak of the crisis from April and May, some airlines reduced flight frequencies while operators raised concerns after Jet A1 prices climbed above N2,500 per litre in parts of the country.

The situation also triggered warnings from the Airline Operators of Nigeria (AON) in April, which threatened to suspend operations over the escalating cost of aviation fuel and other operational challenges confronting carriers.

Passengers across the country were affected by the disruptions, with many travellers increasingly questioning recurring schedule changes, delays and sudden cancellations by airlines already struggling with high fuel and maintenance costs.

The refinery said the latest reduction is expected to lower fuel procurement costs for airlines, improve operational stability and support efforts to moderate airfares.

The intervention comes as the Federal Government continues efforts to stabilise the aviation fuel market through the naira-for-crude initiative and other policy measures aimed at reducing pressure on operators.

A government technical committee earlier recommended the inclusion of aviation fuel under the naira-for-crude arrangement as part of measures to address persistent supply and pricing challenges within the sector.

The committee also projected indicative Jet A1 prices ranging between N1,760 and N1,988 per litre in Lagos, and between N1,809 and N2,037 per litre in Abuja.

Aviation fuel remains one of the largest cost components for airlines in Nigeria, alongside aircraft maintenance, insurance, foreign exchange and leasing expenses.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

FG welcomes GIGM’s expansion into digital mobility, urges reliable services

info

Published

on

IMG 20261105 WA0002.jpg

The Federal Government has welcomed GIG Mobility Group’s (GIGM) expansion into digital mobility services, urging the company to prioritise reliable service delivery as it moves beyond interstate transportation into travel booking and premium vehicle hire.

The government said digital mobility solutions must not only simplify travel arrangements but also guarantee dependable services and protect customers who rely on technology to organise their journeys.

The Permanent Secretary, Federal Ministry of Transportation, Olufunso Adebiyi, represented by Usman Abubakar, Deputy Director, Road and Mass Transit, gave the admonition on Wednesday in Abuja at the unveiling of PASS by GIGM and hireX by GIGM.

Mr Adebiyi said the ministry remained open to partnerships with the company, describing the platforms as an innovation that could improve transportation and travel services.

He also stressed that the ministry hoped the company’s new services would benefit Nigerians and wished it success in its expansion.

According to the Director-General of the National Automotive Design and Development Council (NADDC), Joseph Osanipin, the launch marked the beginning of the work required to sustain the services, warning that the company would need to meet customers’ expectations as demand grew.

PT WHATSAPP CHANNEL
Dangote Refinery AD

“After we have launched today, the real work is going to start. Many customers will come in and demand this service. We have to be up to it,” he said.

Mr Osanipin said trust, reliability and responsive customer service were essential to the success of digital mobility platforms, particularly where customers were required to provide personal information and make payments before travelling.

He added that innovation must address practical problems and deliver solutions through technology in seamless, efficient ways.

GIGM’s background and expansion
GIG Mobility Group is a Nigerian transportation and technology company that began operations in 1998 as God Is Good Motors, providing interstate passenger transportation.

Founded by Edwin and Stella Ajaere in Benin City, the company initially operated between Benin City and Lagos before expanding its bus services to other Nigerian cities.

After Edwin Ajaere’s death, his son, Chidi Ajaere, took over management and led the company’s expansion and adoption of technology-driven transportation services.

The company rebranded from God Is Good Motors to GIG Mobility in 2019, reflecting its expansion beyond conventional passenger transportation.

It also expanded into Ghana, where it operates transportation services, including routes connecting Accra and Kumasi.

GIGM has introduced digital booking and transport management systems into its operations, allowing customers to book interstate journeys online rather than relying solely on physical terminals.

The company says it operates more than 40 terminals across Nigeria and Ghana. Its Chief Executive Officer, Enahoro Okhae, said the Gwagwalada terminal, opened on Tuesday, was its 40th terminal across West Africa.

What the new platforms offer

The two platforms are designed to extend GIGM’s services beyond its traditional interstate bus transportation business into other aspects of mobility and travel.

PASS by GIGM is a travel and tours platform that brings together flight bookings, hotel reservations, airport pickups, curated tours and interstate bus ticketing. It is intended to allow customers to organise different parts of a journey through one digital channel rather than booking each service separately.

hireX by GIGM, on the other hand, is a vehicle-hire marketplace offering chauffeur-driven vehicles for hourly, daily and one-way bookings. The service is designed for airport transfers, business trips, events and other journeys requiring hired vehicles.

According to the company, its Abuja fleet will comprise vehicles owned by GIGM and those operated by partner providers.

The platforms form part of the company’s broader plan to develop a mobility ecosystem that connects transportation with travel and related services.

GIGM says customer expectations are changing

Mr Okhae explained that the expansion was informed by changing customer expectations, particularly demands for convenience, speed, digital access and simpler travel arrangements.

He said the company had traditionally been known for moving passengers between states but was now seeking to provide services covering other parts of their journeys.

“Strong companies evolve. Strong companies listen. Strong companies learn. They adapt. They invest,” he said.

Mr Okhae added that the company was seeking to respond to the movement of people across Africa for business, education, family engagements, tourism and other opportunities.

He noted that GIGM’s expansion was based on the belief that customers increasingly needed connected services rather than separate transportation arrangements.

“The future belongs to connected solutions, not isolated services,” he said.

He said the company was building an ecosystem that would let customers access different services and organise their journeys.

Mr Okhae added that Abuja was strategic to the company’s expansion, explaining that the launch was intended to extend services already introduced in Lagos to customers in the capital.

Technology and operational capacity
Charles Oloyede, GIGM’s Head of Product, said technology had enabled the company to expand into other segments of the mobility business.

ALSO READ: CREDICORP rolls out first CNG mobility activation in Adamawa, advancing its 10,000 mobility rollout

He explained that the company’s existing technological infrastructure supported road and air travel services, helping it manage operations and provide customers with different travel options.

Mr Oloyede said the company relied on technology to manage operational complexities that would be difficult to handle manually.

He added that GIGM had about 150 daily touchpoints, although he did not clarify whether the figure referred to transactions, operational contacts or customer interactions.

He also noted that the company’s technology had been developed to support its operations and provide customers with a more coordinated travel experience.

According to Mr Oloyede, Abuja was an important market for the company, and the launch was intended to extend services already available in Lagos to customers in the capital.

NADDC highlights reliability and customer trust

Mr Osanipin said customers would need confidence in the platforms before entrusting them with personal information, payments and travel arrangements.

He noted that reliability and responsive customer service were equally important, particularly when customers encountered difficulties or needed urgent assistance.

The NADDC director-general said the company’s experience in transportation could help it respond to customers’ needs but cautioned against assuming that the launch alone would guarantee success.

He urged the management to continue improving its services and avoid complacency.

“When you are number one, think as number two,” he said.

The platforms come at a time when customers increasingly use digital channels to arrange transportation and other services.


Discover more from Premium Times Nigeria

Subscribe to get the latest posts sent to your email.

Continue Reading

Business

olice Warn Politicians Against Destruction of Campaign Posters, Threaten Arrests

info

Published

on

The Nigeria Police Force has warned political thugs, hoodlums and other individuals involved in the destruction, defacement and removal of campaign posters, banners and billboards belonging to political candidates and parties ahead of the 2027 general elections to desist or face arrest and prosecution.

The police described the growing incidents of destruction of campaign materials across the country as acts of political intolerance, warning that those responsible would be held accountable under the law.

In a statement issued on November 4, 2026, the Force said the unlawful destruction or removal of another candidate’s campaign materials could constitute malicious damage, a criminal offence under Section 451 of the Criminal Code Act and Section 326 of the Penal Code Law, which provides for the offence of mischief.

The police stressed that political differences or loyalty to a particular party did not give individuals the right to destroy another candidate’s property or prevent them from exercising their right to campaign freely.

The Force also warned that political sponsors and individuals who recruit, encourage or facilitate the destruction of campaign materials would be held accountable where evidence establishes their involvement.

According to the statement, the Inspector-General of Police, IGP Olatunji Rilwan Disu, has directed Commissioners of Police across the 36 states and the Federal Capital Territory to take proactive measures to prevent such incidents, investigate reported cases and ensure the arrest and prosecution of suspects found culpable.

The police further maintained that all political parties and candidates, regardless of their affiliations or status, were entitled to equal protection under the law.

The Force urged political parties, candidates and their supporters to conduct their campaigns peacefully and respect the rights of others, warning that political intolerance, intimidation and criminal activities would not be tolerated.

It reiterated its determination not to allow political thugs and troublemakers to turn the country’s political environment into a theatre of lawlessness.

The statement was signed by the Force Public Relations Officer, CSP Ani Iniedu, at the Force Headquarters, Abuja.

The post olice Warn Politicians Against Destruction of Campaign Posters, Threaten Arrests appeared first on Business Today NG.

Continue Reading

Trending