FG to provide forex to end aviation fuel scarcity

• As shortage persists nationwide

The Federal Government, yesterday, promised to intervene in the crisis rocking the aviation sector, occasioned by scarcity of aviation fuel, otherwise called Jet-A1.

The Guardian learnt that the government, through the Minister of State for Aviation, is to avail foreign exchange at the market rate of N285 to a dollar, to facilitate importation of aviation fuel by marketers.

Meanwhile, the scarcity persisted in major airports around the country, yesterday, causing passengers to be stranded, as operators continued to delay and reschedule flight services.

It will be recalled that oil marketers responsible for importation and supply of aviation fuel had blamed the high cost of purchasing the dollar as cause of the current scarcity.

Executive Secretary of the Major Oil Marketers Association of Nigeria (MOMAN), Obafemi Olawole, confirmed that the current rate of N320-plus to a dollar, which banks are offering oil marketers, discouraged importers from bringing in the commodity. With storage facilities almost dried up, scarcity was inevitable.

But sources on Tuesday said government and oil marketers have agreed on a solution to the problem.

The source, who would not want his name mentioned, said the government agreed to source for foreign exchange through the International Oil Companies (IOC), who will give dollars to banks, to sell to the importers at N285.

“That is the immediate measure being made, and the marketers have agreed to import aviation fuel. So, the current scarcity will vanish in a matter of days.”

The scarcity, coupled with weather concerns, accounted for several delays passengers suffered at the General Aviation Terminal (GAT) and Murtala Muhammed Airport II (MMA2), Lagos, yesterday afternoon.

The Nigerian Civil Aviation Authority (NCAA) reiterated that both fuel scarcity and bad weather are two critical issues that are beyond the operators, and are bound to hinder flight services.