Airlines in Nigeria have warned they may suspend operations nationwide within days as soaring jet fuel prices are becoming unbearable, according to local media reports.
Local media outlets citing members of the Airline Operators of Nigeria (AON) said the price of Jet A1 fuel has surged from around 900 naira per litre to more than 3,300 naira in a matter of weeks, an increase of over 300%. Operators said the spike has far outpaced global crude oil price movements and is now making flight operations financially unsustainable.
Industry representatives warned that revenues are no longer sufficient to cover fuel costs, raising the prospect of a nationwide suspension of flights from April 20 if no intervention is made. Such a move would disrupt travel and business activity across one of Africa’s largest economies, where aviation plays an important role in connectivity.
The situation in Nigeria could soon be mirrored in many other developing countries - particularly those with fragile economies, currencies and reliant on increasingly costly jet fuel imports. Another issue is that demand for flights is often more price sensitive than in developed countries - limiting the ability of airlines to raise air fares in these markets to recoup costs.
Nigerian airline operators have called on the government and fuel suppliers to stabilise prices, warning that the current trajectory poses a serious threat to the survival of the sector.
The pressure is not limited to Nigeria. Reports from Asia suggest some Chinese carriers have already begun cancelling flights on certain international routes as fuel costs rise, with disruptions affecting travel to Southeast Asia and Australia ahead of peak travel periods.
Airlines in India are also reducing capacity despite government intervention to cap rises in jet fuel prices.