To prevent a total shutdown of air travel, Aviation jet A1 fuel is now to be sold at N500 within the next three days.
The Group Managing Director of the Nigeria National Petroleum Corporation (NNPC) Ltd, Mr Mele Kyari, announced the reduction in the price of aviation fuel from N670 to N500, after a meeting with marketers, regulators and operators in the aviation industry.
The meeting, which was presided over by the Deputy Speaker of the House of Representatives, Ahmed Wase, was in continuation of the investigation over the scarcity and high cost of aviation fuel, which has led to an increase in air fares.
Mr Kyari said a better pricing mechanism is to be put in place within the next three days to arrive at an acceptable price.
He added that airline operators will be granted license to import aviation fuel.
