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Dangote refinery cuts aviation fuel price to N1,650

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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.

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Mutual Benefits Assurance Reaffirms Commitment to Workforce Wellbeing with “Sweat It Out!” Event

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Mutual Benefits Assurance Plc in partnership with Hallmark Health Services Limited (Hallmark HMO), has reaffirmed its commitment to employee wellbeing by hosting the Retail Aerobic Dance & Wellness Day 2026, a vibrant initiative designed to promote healthy living, preventive healthcare and workplace wellness among its Retail Team.

Held under the theme “Sweat It Out!”, the event brought together Retail Managers across Mutual Benefits for an engaging day of fitness, health education and preventive medical screening.

The programme featured an enlightening health talk on Cardiovascular Health delivered by medical professionals from Hallmark HMO, alongside complimentary health screenings, including blood pressure and other vital health checks. Participants also took part in an energetic aerobic dance session aimed at encouraging active lifestyles while fostering teamwork, camaraderie, and employee engagement.

Speaking at the event, Alexander Lawal, Chief Retail Officer, Mutual Benefits Assurance Plc, emphasised that employee wellbeing remains fundamental to the company’s long-term success.

“Our people are our greatest asset. As an organisation that exists to provide security and peace of mind to millions of Nigerians, we recognise that this responsibility begins with caring for our own employees. The Retail Aerobic Dance & Wellness Day reflects our commitment to creating a workplace where our people are healthy, motivated, resilient and equipped to deliver exceptional service to our customers.”

Lawal added that promoting healthy lifestyles among employees contributes to higher productivity, stronger collaboration and a culture of excellence across the organisation.

Also speaking on the significance of the event, Dr. (Mrs.) Dotun Adeogun, Chief Executive Officer of Hallmark HMO, noted that preventive healthcare and daily healthy habits are essential for avoiding lifestyle-related illnesses like heart disease. Mutual Benefits is commended for leading by example in prioritizing employee well-being and building a healthier workplace culture.

The event concluded with an exciting aerobic fitness session, interactive wellness activities and prize presentations, reinforcing the message that healthy employees are happier, more engaged and better positioned to drive organisational success.

The Retail Aerobic Dance & Wellness Day forms part of Mutual Benefits’ broader employee engagement and wellness initiatives aimed at fostering a high-performing workforce, while encouraging healthier lifestyles across the organisation.

Mutual Benefits Assurance Plc is one of Nigeria’s leading insurance companies, with over 30 years of experience in providing reliable and innovative Life and General Insurance solutions to individuals, families and businesses. With a customer-centric approach built on trust, reliability and service excellence, the company remains committed to protecting lives, preserving assets and creating lasting value for its stakeholders through accessible insurance solutions and responsible corporate citizenship.

The post Mutual Benefits Assurance Reaffirms Commitment to Workforce Wellbeing with “Sweat It Out!” Event appeared first on Business Today NG.

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Elon Musk Says AI Could End Traditional Jobs, Predicts Era of ‘Universal High Income’

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Billionaire entrepreneur Elon Musk has predicted that artificial intelligence and humanoid robots will eventually perform most jobs currently done by humans, ushering in an era where governments may have to provide citizens with a universal income.

Speaking during a discussion with XPRIZE founder Peter Diamandis at the Abundance Summit, the Tesla and SpaceX CEO said the rapid advancement of AI and robotics would dramatically increase global productivity, making goods and services more abundant than ever before.

According to Musk, technological progress will reach a point where machines become capable of meeting nearly all human needs, leaving fewer employment opportunities for people.

“AI and robots are going to make so much stuff and provide so many services that they will actually run out of things to do for humans,” he said.

Musk explained that once artificial intelligence begins producing goods and services on a massive scale, economic output could expand far beyond current levels while human demand remains relatively limited.

He argued that such a shift would require a new approach to wealth distribution, suggesting that governments may eventually adopt what he described as a “universal high income” model.

“We’re basically just issuing money to people,” Musk said, adding that future economies could sustain such a system because the supply of goods and services would grow much faster than the money supply.

The tech billionaire maintained that this imbalance would create deflationary pressures, making products and services cheaper over time rather than triggering inflation.

Musk’s latest comments come amid growing global discussions about the impact of artificial intelligence on employment, with experts divided over whether AI will replace existing jobs or create new economic opportunities.

His remarks add to the broader debate over how governments, businesses and workers should prepare for a future increasingly shaped by artificial intelligence and automation.

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