Curb soaring Jet fuel prices now —Reps tell Tinubu

By Christiana Ekpa

The House of Representatives has urged the Federal Government to urgently stabilise the rising cost of aviation fuel, warning that the surge is placing severe pressure on Nigeria’s airline industry.
The resolution followed the adoption of a motion of urgent public importance sponsored by Paschal Agbodike during Tuesday’s plenary.
Leading the debate, Agbodike noted that aviation fuel also known as Aviation Turbine Kerosene accounts for between 40 and 60 per cent of airlines’ operational costs, making it the single largest expense for domestic carriers.
He warned that operators are increasingly struggling to remain viable while maintaining service standards in collaboration with the Nigerian Civil Aviation Authority.
According to him, several airlines have already reduced flight frequencies or grounded aircraft due to rising costs, leading to shrinking capacity across the sector.
Agbodike further highlighted that the combined impact of high jet fuel prices and foreign exchange constraints affecting the importation of aircraft parts has worsened the financial strain on local airlines, exposing them to the risk of collapse.
“The continued volatility in jet fuel pricing, if not urgently addressed, could lead to the collapse of major domestic airlines, with far-reaching consequences for the economy, jobs and regional connectivity,” he said.
Following deliberations, the House called on the Federal Government, through the Ministry of Petroleum Resources and the Nigerian National Petroleum Company Limited, to establish a direct price stabilisation arrangement with domestic airlines to ensure more predictable and affordable fuel costs.
The House also mandated its Committees on Aviation, Petroleum Resources (Downstream), and Finance to investigate the persistent rise in jet fuel prices and report back within two weeks.