Despite a 20% decline in aviation fuel, airlines maintain high fares

Recent investigations have revealed that, despite a 20% fall in the cost of aviation fuel, airfares across the country have remained high.The hefty fees, which have been a source of anxiety for many travelers, were expected to fall following a significant decline in the cost of aviation fuel, commonly known as JET A1, over the last four weeks.The cost of aviation gasoline has dropped from 900 per litre to slightly more than 600 per litre, representing a 20% decrease. The cost, on the other hand, differed across the country. The price of aviation fuel in Lagos was set at 630 per litre. The price in Port Harcourt was reported to be ₦650 per litre. Abuja - ₦670 per litre and ₦685 per litre in Kano. The price of airfares in Nigeria has maintained a steady increase since 2020 and stakeholders have blamed many factors for the increment like the foreign exchange, duty charges on plane spare parts, and boarding passes.