Home BUSINESS Aviation Fuel Scarcity is a Global Problem – Hadi Sirika

Aviation Fuel Scarcity is a Global Problem – Hadi Sirika

20
0
Aviation Fuel Scarcity is a Global Problem - Hadi Sirika
Aviation Fuel Scarcity is a Global Problem - Hadi Sirika

Minister of Aviation, Senator Hadi Sirika, has said the current aviation fuel scarcity in the country with its attendant high cost is a global problem.

Sirika made the claim after Airline Operators of Nigeria (AON) told Nigerians to be prepared for flight disruption due to scarcity of aviation fuel, adding that scarcity and high cost of Jet A1 in civil aviation is driven by many factors which include low capacity to refine the product, high demand around the world, increased activity, increased number of airplanes and users of jet A1.

The Minister who briefed reporters after accompanying a delegation led by the Secretary General of International Civil Aviation Organization (ICAO), Mr Juan Carlos Salazar, to the State House, Abuja on Tuesday May 17, further stated that while Nigeria is passing through this phase, civilization from time always survives challenges.

He said “The scarcity and high cost of Jet A1 in civil aviation is not peculiar to Nigeria. It is a global phenomenon driven by many factors. Some of them include even low capacity to refine the product. It’s also high demand around the world, it has increased activity and increased number of airplanes out there and users of this jet A1.

“Plus also the Ukraine crisis and many more. It’s a time when crude itself is so expensive today, it is in the hundreds of dollars per barrel and only the high cost of Jet A1 product in Nigeria. Also the peculiarity of the fact that we’re not refining the product, so to speak.

“And I did address the press a couple of days ago, saying that, by the grace of God, perhaps once the Dangote refinery is online or if the government fixes the Port Harcourt refinery, which is now ongoing, we will begin to refine this product and sell it.

“And as a stopgap measure, interim measure, there’s an agreement that the airline operators of Nigeria would nominate either from out of themselves or from other major oil marketers to be given the opportunity to import this product. Then, also get the necessary foreign exchange for that purpose. And that will now increase more supply and perhaps drive down the cost.”