Regulator denies N3,300 aviation fuel rumors; says supply is stable

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Keypoints

• The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has dismissed rumors that aviation fuel prices have hit N3,300 per litre.
• National sufficiency stands at a healthy 74 days, consisting of 62 days of refinery stock and 12 days of inland stock.
• Dangote Refinery is currently selling the fuel (Jet A1) at an “ex-gantry” price of N1,879 per litre, which is lower than the international supply cost of N1,900.
• Retail prices across Nigeria are currently surveyed between N1,960 and N2,800 per litre, depending on the location.
• The NMDPRA has vowed to take “regulatory measures” against any suppliers found to be profiteering or artificially hiking prices.

Main Story

Don’t let the social media rumors panic you—the aviation fuel situation is under control. On Friday, April 17, 2026, the NMDPRA (the “Authority”) released a statement to correct misleading reports about a massive price hike.

While some media outlets suggested prices had climbed to N3,300, the regulator’s own survey shows that the highest price being charged at the pump is actually N2,800.

In a move to show transparency, the Authority revealed that the Dangote Petroleum Refinery is playing a key role in keeping prices down. By selling at N1,879 per litre, the local refinery is actually undercutting the global market price.

With enough fuel stored to last the entire country for over two months (74 days), the government is assuring both airlines and passengers that there is no need for panic or flight cancellations.

The Issues

The primary challenge is the speculation gap; when false prices like N3,300 are peddled, it can cause “panic buying” and lead to real price hikes. Authorities must solve the problem of retail profiteering, as some local marketers might try to sell fuel at the rumored higher rates rather than the actual market rates. Furthermore, there is a global-conflict risk; because aviation fuel is deregulated, any sudden changes in the Middle East war could still push these prices up regardless of local stock. To maintain “energy security,” the NMDPRA must move beyond just issuing statements and ensure that the lower prices at the Dangote Refinery actually translate to lower ticket prices for everyday travelers.

What’s Being Said

• “The speculated N3,300 per litre price… does not reflect current market reality,” stated George Ene-Ita, Director of Public Affairs at the NMDPRA.
• Airline operators had previously warned of an “existential threat” to their business, but these new figures suggest the pressure may be easing.
• Major marketers (MEMAN) have supported the regulator’s stance, urging airlines to “seek alternative suppliers” who are selling at the fair market price.
• Industry observers note that having 62 days of refinery stock is a massive win for Nigeria’s independence from foreign fuel imports.

What’s Next

• A closer monitoring of retail stations will continue throughout the weekend to catch any “profiteers” trying to charge the rumored N3,300 rate.
• Airline ticket prices are expected to be reviewed by the NCAA to see if the stable fuel supply should lead to a reduction in airfares.
• New supply agreements between local airlines and the Dangote Refinery may be signed to bypass “middlemen” who add to the cost.
• A follow-up report on national sufficiency levels will likely be released in early May to ensure the 74-day buffer is being maintained.

Bottom Line Nigeria has plenty of aviation fuel, and it’s cheaper than the global average thanks to local production. The regulator is making it clear: the “N3,300 crisis” is a myth, and the market is operating exactly as it should in a deregulated system.