In Nigeria, Aviation jet A1 fuel is to be sold at N500 within the next three days to prevent airlines from shutting down.
This is according to the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari 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.
Meanwhile, airline operators said they cannot survive the next 72 hours with the current price of aviation fuel, as they have been paying the cost of subsidizing the cost of the aviation fuel.
CEO of Air Peace, Allen Onyema reiterated that the airlines are making too many sacrifices to keep the aviation sector alive.