Categories: Business

Scarcity of aviation fuel: We’ve only 3 days to shut down operations – Airlines

…say economy rate “ll hit N120,000 for economy seat

…we won’t accept blackmail by marketers-Reps’ deputy speaker

… 19 oil companies currently have 88million litres of aviation fuel – GMD NNPC

Local airlines in Nigeria have said they have only 3 days from today to shutdown operations over lack of aviation fuel.

This was as the aviation fuel marketers have failed to convince the House of Representatives on why the prices of the product are hitting the rooftops on daily basis.

At the moment, the airlines are buying the fuel at N670 from normal price of 190 recently.

Speaking before the special House Committee investigating the unavailability of the product with the aim of proffering solutions, the airlines represented by the Chief Executive Officer, CEO of Airpeace, Mr. Allen Onyema said that they cannot afford the fuel anymore.

He said that if they were to continue flying, an average Nigerian will spend N120, 000 for an economy ticket.

In their presentation, the oil markers said high dollar rate was responsible for the high cost of the fuel.

Asked by the Deputy Speaker of the House who chaired the committee of how much they purchased the dollar and which banks, the representatives of the marketers could not give an answer.

He therefore warned against blackmailing the government.

On his part, the Group Managing Director of NNPC Limited, Mele Kyari said that at the moment there were 19 oil companies with 88 million litres of aviation fuel in the country.

The meeting is currently ongoing in the House of Representatives.

Vanguard

Trends Admin

Recent Posts

PH refinery to blend 1.4-million litre petrol daily – NNPC

PH refinery to blend 1.4-million litre petrol daily - NNPC   Rehabilitated old Port Harcourt…

6 minutes ago

Relief as Israel agrees to ceasefire with Lebanon

Relief as Israel agrees to ceasefire with Lebanon    Israeli Prime Minister Benjamin Netanyahu has…

37 minutes ago

US University opens 2025 scholarships for international students

US University opens 2025 scholarships for international students Montana Technological University (Montana Tech) has opened…

15 hours ago

200,000 repentant terrorists surrender, drop arms in North East – CDS

200,000 repentant terrorists surrender, drop arms in North East – CDS The Chief of Defence…

15 hours ago

Canadian university offers funded national scholarship program for 2025

Canadian university offers funded national scholarship program for 2025 Western University has announced that applications…

15 hours ago

Israeli strikes pound central Beirut, suburbs

Israeli strikes pound central Beirut, suburbs BEIRUT: Israeli strikes pounded a densely-populated part of the Lebanese…

15 hours ago