Nigeria approves Dangote refinery as sole jet fuel supplier to airlines
Wed, 9 Oct 2024
Source: businessinsiderafrica
The Nigerian government has authorized Dangote Refinery as the exclusive supplier of jet fuel for airlines in Nigeria.
This decision, announced by Minister Festus Keyamo, follows the refinery's start of jet fuel supply in April and its first export to Europe in May.
Airline operators agreed to designate Dangote as the sole provider to stabilize fuel costs amid fluctuating crude oil prices.
Additionally, the recent naira-for-crude agreement with Dangote aims to eliminate dollar dependency in fuel purchases.
The Nigerian National Petroleum Company has also ended its exclusive purchasing rights with Dangote.
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Source: businessinsiderafrica