Log In Sign Up
News Wire / economy

Nigeria Airfare Prices Surge To 3300 Naira Per Liter

developing CRI News Radio Lagos 13d12d Impact 5

Airfare prices from Lagos to Benin have risen to 145,000 Naira from approximately 90,000 Naira. The increase is driven by surging global aviation fuel prices caused by ongoing Middle East conflicts. This price hike is compressing profit margins for airlines and has led several small and medium-sized Nigerian carriers into operating losses. The Nigerian airline operators alliance previously warned of these rising costs. Multiple small and medium-sized Nigerian airlines are currently operating at a loss due to compressed profit margins. African airlines are particularly vulnerable to these shifts as fuel typically accounts for 30% to 40% of their operating costs, compared to a global average of 20% to 25%. Airfare and fuel-related costs in Nigeria have risen from approximately 900 Naira per liter in February to 3,300 Naira per liter currently.

Airfare prices from Lagos to Benin have risen to 145,000 Naira from approximately 90,000 Naira. The increase is driven by surging global aviation fuel prices caused by ongoing Middle East conflicts. This price hike is compressing profit margins for airlines and has led several small and medium-sized Nigerian carriers into operating losses. The Nigerian airline operators alliance previously warned of these rising costs. Multiple small and medium-sized Nigerian airlines are currently operating at a loss due to compressed profit margins. African airlines are particularly vulnerable to these shifts as fuel typically accounts for 30% to 40% of their operating costs, compared to a global average of 20% to 25%. Airfare and fuel-related costs in Nigeria have risen from approximately 900 Naira per liter in February to 3,300 Naira per liter currently. To prevent transport disruptions, the Nigerian government approved debt relief measures for several domestic airlines last week.

Topics

aviation inflation fuel prices

Developing

  1. 862d Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore.
  2. 862d Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
  3. 862d Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est.
  4. 862d Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium.

Sources · 7 independent

CRI News Radio

“在全球航空燃油價格飆升這一背景下 目前從被凝成到拉格斯的機票價格 已經漲到14.5萬奈拉 而之前大約是9萬奈拉”

CRI News Radio

“目前從被凝成到拉格斯的機票價格,已經漲到14.5萬奈拉,而之前大約是9萬奈拉。”

CRI News Radio

“In the context of surging global aviation fuel prices, airfare prices from Benin to Lagos have risen to 145,000 Naira, up from about 90,000 Naira.”

CRI News Radio

“In the context of surging global aviation fuel prices, airfare from Benin to Lagos has risen to 145,000 Naira from about 90,000 Naira.”

CRI News Radio

“In the context of surging global aviation fuel prices, airfare prices from Benin City to Lagos have risen to 145,000 Naira, up from about 90,000 Naira.”

CRI News Radio

“In the context of surging global aviation fuel prices, airfare prices from Benin City to Lagos have risen to 145,000 Naira from about 90,000 Naira.”

CRI News Radio

“Since the outbreak of this round of Middle East conflict, aviation fuel prices in Nigeria have climbed sharply in a short period of time, from about 900 naira per liter in February... to the current about 3300 naira per liter.”

CRI News Radio

“自本輪中東衝突爆發以來 尼日利亞國內航空燃油價格在短時間內大幅攀升 從2月份的約每升900奈拉...想到目前的約每升3300奈了”

Unlock the full story

Get a Pro subscription or above to see the live story progression and the full list of independent sources confirming each event as they happen.

Log in to upgrade