A Nigerian Airline, Ibom Airlines Limited, has reported a 350%+ rise in the cost of aviation fuel per flight within the past three months.

In an update on the crisis, the Group Manager, Marketing and Communication of Ibom Air, Aniekan Essienette, said that aviation fuel cost per flight has surged from N2.1 million in January to N7.6m by April 27, 2026, a 350%+ rise since early March despite using fuel-efficient aircraft and sourcing 95%+ from the Dangote Oil Refinery.

“The fuel price situation is an unprecedented crisis for Nigeria’s domestic airlines. At Ibom Air, the cost of fueling our aircraft has more than tripled between January and today. From an average of N2.1m per flight in January, as at today, the 27th of April, we are paying approximately N7.6m to fuel every flight,” the statement read.

“This is a more than 350% increase since the beginning of March, a space of just 7 weeks! And our aircraft are some of the most fuel efficient in the domestic market.”

The airline also highlighted absorbing massive losses without proportional fare hikes due to competition and patriotism, warning that current conditions are unsustainable and may force capacity reductions to maintain operations.

“At this point, domestic airlines are baffled at why the price of aviation fuel in Nigeria has ballooned to this level, way above the rest of the world, while the fuel marketers obtain 95% or more of their aviation fuel from Dangote Refinery,” Essienette added.

“The situation is exacerbated by the fact that a combination of competitive pressures and patriotism have prevented a commensurate increase in our fares, meaning that we and our fellow domestic airlines have had to absorb the immense operating losses resulting from this situation.

“We chose to do this believing that the crisis would pass in a week or two, but it has persisted now for nearly two months, continuously increasing, with no reprieve in sight as at today. While we continue to do everything we can to maintain normal operations, it is clear to us that the current conditions are unsustainable.”

Ibom Air said it notes that, worldwide, where fuel price increases are nowhere near what the aviation sector is facing in Nigeria, airlines are reducing flights to manage the situation.

As such, it said it will also have to take whatever ameliorating actions it can in the days ahead, including reducing its capacity if necessary, to be able to continue to provide services to its customers and the country.

Ibom Air said it also notes that if this situation persists much longer, airlines will not be able to continue operating just to pay for fuel and nothing else.

It called on the fuel marketers to seriously reconsider the pricing of aviation fuel to make the airline business model continue to work in Nigeria.

The situation reflects a wider aviation crisis in Nigeria where jet fuel prices have risen far above global averages amid supply disruptions and pricing dynamics, prompting industry calls for marketers to adjust pricing for viability.