Air travellers in Nigeria may soon face higher ticket prices as the cost of Jet A1 aviation fuel has surged by 53.1 per cent, following escalating tensions in the Middle East involving the United States, Israel and Iran.
The geopolitical crisis has pushed global crude oil prices beyond $100 per barrel, triggering a sharp increase in the cost of aviation fuel across Nigerian airports.
Industry sources told LEADERSHIP that the price of Jet A1 has risen from between ₦940 and ₦980 per litre to about ₦1,500 and ₦1,600 per litre, raising concerns among airline operators.
As a result, the cost of domestic air travel may climb significantly. A one-way ticket, which currently averages about ₦150,000, could increase to between ₦185,000 and ₦200,000 if the situation persists.
Aviation fuel remains the largest cost component for airlines, accounting for about 30 to 35 per cent of total operational expenses. However, with the latest price s
