Airfares set to rise as aviation fuel hits ₦1,600 per litre

Air travel in Nigeria may soon become more expensive because the price of aviation fuel has increased sharply.

Due to rising tensions in the Middle East involving the United States, Israel, and Iran, global crude oil prices have climbed above $100 per barrel.

As a result, the price of Jet A1 fuel (used by airplanes) in Nigeria has risen from about ₦940–₦980 per litre to about ₦1,500–₦1,600 per litre, which is about a 53.1% increase.

Because fuel is the largest cost for airlines, this increase may cause airlines to raise ticket prices for domestic flights.

Currently, a one-way flight ticket in Nigeria costs about ₦150,000 on average, but it may increase to ₦185,000–₦200,000 if fuel prices remain high.

Fuel normally accounts for 30–35% of airline operating costs, but with the new prices it could rise to 40 45%.

The price of aviation fuel also differs depending on the airport, the supplier, and how much fuel an airline buys.

Current estimated fuel prices at some Nigerian airports include:

₦1,500 per litre at Murtala Muhammed International Airport

₦1,600 per litre at Nnamdi Azikiwe International Airport

Around ₦1,700 per litre or more at Margaret Ekpo International Airport, Port Harcourt International Airport, and Mallam Aminu Kano International Airport

Experts say that if the fuel price continues to rise, airlines will have no choice but to increase airfares.

Aviation expert Samuel Caulcrick said fuel now makes up about 45% of airline operating costs, making it the most expensive part of running an airline.

Another aviation expert, Charles Amokwu, also warned that higher fuel costs will affect airline ticket prices globally.

He explained that a Boeing 737 needs about 3,500 to 4,000 litres of fuel to fly from Lagos to Abuja. Filling the aircraft with fuel for that short flight can cost around ₦6 million.

If fuel prices continue to increase, passengers in Nigeria should expect higher flight ticket prices soon.