They noted that the petroleum products downstream industry, which is engaged in logistics and distribution, is also suffering the impact of these higher costs. In relation to the rising cost of aviation fuel (Jet A1), the marketers stated that the product, like others, is not produced locally and currently subsidized, going by the comparative prices in neighbouring countries. The Guardian learnt that all the local airlines took off on the morning belt, though with fuel supply the only impediment to seamless operation. “In comparative terms, the aviation industry is already benefiting from government’s intervention when local prices are compared to West African regional prices, despite the deregulated status of aviation fuel. This situation is hardly sustainable given the already humongous N4 Trillion cost of the PMS subsidy”, MOMAN added.

Source: The Guardian May 10, 2022 05:34 UTC