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Jet A1 prices hike January 1, signalling air travel turbulence



Oil marketers have declared a January 1, 2024, initiation of Jet A1 price hikes in various Nigerian regions. This escalation is foreseen to adversely impact air travel.

In Lagos, Jet fuel will now cost N1,023, while Port Harcourt and Abuja will see prices at N1,053 and N1,063, respectively—an approximate 9.08 percent rise from October 2023’s N938 in Lagos.

Abuja and Port Harcourt witness an 8% surge from N978, and Kano experiences a 7 percent increase from N993, all occurring within three months.

October 2023 had additional spikes with Lagos prices climbing 5.33 percent to N988. Abuja and Port Harcourt rose by 5.11 percent to N1028, and Kano increased by 5.24 percent to N1043.

November 2023 saw a 1.53 percent drop in Jet Fuel prices in Abuja and Port Harcourt, while Lagos and Kano remained steady.

December witnessed Jet A1 rising from N938 to N993 in Lagos, a 5.87 percent hike. In Abuja and Port Harcourt, it increased by 6.28 percent from N963 to N1023, with no change in Kano.

Despite seemingly small percentage shifts, these impacts resonate significantly within the airline industry.

Aviation Management Consultant, Babatunde Adeniji, emphasises that fuel costs, influenced by oil prices and currency depreciation, stand as a substantial expense for airlines. This intensifies existing financial pressures on airlines.

Adeniji states, “This compels them to raise fares, but customer resistance may limit their ability to do so, negatively affecting demand. Passengers will encounter higher fares, potentially seeking alternatives or reducing travel frequency. Businesses relying on air travel face increased costs.”

Olumide Ohunayo, Head of Research at Zenith Travels, predicts a substantial rise in airfares due to the new pricing structure.

Ohunayo anticipates a reduction in fares in the Southeast, which saw a surge during the festive season.

He noted, “Baffling fares in the Southeast and South South will decrease. Travelers on that route will experience a difference as people return in January.”

While acknowledging potential insulation in Lagos, Ohunayo urges caution, stressing the need for aviation and oil and gas regulators to ensure compliance with safety standards. He expresses concern about Jet A1 suppliers outside Lagos and calls for collaboration to maintain safety measures.

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Aviation sector to benefit from RIDF



Aviation is set to be part of key economic drivers that will benefit from President Bola Tinubu’s proposed Renewed Hope Infrastructure Development Fund (RIDF).

In a statement by Ajuri Ngelale, the fund targets strategic sectors like agriculture, transportation, ports,  energy, healthcare, and education along with aviation.

The initiative plans to inject funds into vital national projects to foster growth, bolster local value addition, generate jobs, and spur innovation.

Efficient use of low-interest loans and financing options will secure advantageous arrangements for project financing and operation.

The focus on aviation enhancement involves modernising major airports nationwide with targeted investments and infrastructure upgrades.

The statement reads, “On aviation enhancement, the focus is on the revitalization and modernization of major airports nationwide. Through targeted investments and infrastructure upgrades, major airports will undergo comprehensive refurbishment, including improvement in terminal facilities, runway expansions, and the implementation of cutting-edge technologies to enhance safety and operational efficiency.”

For agricultural infrastructure, the focus includes developing robust networks like storage facilities and irrigation systems.

In port revitalisation, the goal is to modernise facilities and attract investments to enhance Nigeria’s regional trade hub status.

“By modernizing port facilities and implementing advanced monitoring systems, the goal is to optimize efficiency, attract investments, and bolster Nigeria’s position as a regional trade hub,” the statement read.

Key road projects like Lagos-Calabar Coastal Road aim to enhance connectivity and stimulate economic growth.

Rail projects like Lagos-Kano and Eastern lines will modernise transportation networks for speed and reliability.

President Tinubu’s approval of the RHIDF absorbs the PIDF, expediting project delivery for Nigerians’ benefit.

Projects funded under the RHIDF will have a national spread, reflecting the commitment to equitable development.

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ICAO Aviation security audit team debriefs Nigeria, indicates strong outing



The Team Lead of ICAO Security Audit Programme, Callum Vine, announced Nigeria’s strong performance during a debrief after its Audit.

Nigeria recently concluded the International Civil Aviation Organization (ICAO) Security Audit Programme the continuous Monitoring Approach (USAP-CMA) according to a statement emanating from Director, Public Affairs and Consumer Protection, FAAN, Obiageli Orah.

The USAP-CMA aims to improve aviation security compliance by analysing Member States’ performance and implementation of security standards. It focuses on Annex 17: Security Standards and Annex 9: facilitation compliance, along with associated procedures and security practices.

The event held at NCAA Headquarters saw Vine praise Nigeria’s robust policies and agencies, acknowledging their speed in addressing identified deficiencies without complaints.

He mentioned that the full audit report would be available within 60 days, followed by a 30-day period for comments.

FAAN’s Managing Director, Mrs. Olubunmi Kuku, affirmed using the audit results as a roadmap for continuous improvement.

She urged stakeholders to collaborate closely, share best practices, and uphold the highest security standards in the industry.

The debrief was attended by Dr. Emmanuel Meribole, representing the Minister, and Captain Chris Najomo, Acting Director General of NCAA.

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Arik Air receives Best Sustainable Airline Company award



Arik Air has bagged the award for  Best Sustainable Airline of the Year,  2024 by the World Quality Alliance and Quality Standards Journal.

The airline’s Public Relations and Communications Manager, Mr Adebanji Ola, disclosed this in a statement made available to newsmen in Lagos.

Ola said the award was presented to the airline at the National Quality Summit 2024 held on March 22 in Abuja.

According to Ola, the Award General Committee of the National Quality Order of Merit, said the award was meant to celebrate leadership innovations and creativity in quality management.

Ola noted that Dr Ovie Shaka, Vice Chairman, Organising Committee of the National Quality Order of Merit Awards 2024, explained that the award was aimed at identifying, recognising and rewarding companies.

“The award also aims at rewarding personalities and products that apply quality assurance culture and quality management best practices.”

He said the award was presented by Stanley Ohenhen, on behalf of the Organising Committee and received by Arik Air’s Director of Safety, Capt. Jide Bakare.

Ola quoted Arik Air’s Chief Executive Officer, Capt. Roy Ilegbodu, as saying that the award is another testament of the airline’s fastidious adherence to operational safety standards.

Ilegbodu said Arik Air was committed to continual improvement of the management system and operational performance.

Recall that Arik Air also won the 2023  Best In-flight Service Airline by the Nigerian Aviation (NIGAV) Award.

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