Major Oil Marketers Association of Nigeria (MOMAN) has debunked claims Aviation Turbine Kerosene (ATK), also known as aviation fuel, was sold at N700 per litre in some parts of the country.
Mr Clement Isong, executive secretary of MOMAN spoke to News Agency of Nigeria (NAN) on yesterday in Lagos.
NAN reports that Airline Operators of Nigeria (AON) threatened to go on strike on May 9, claiming the cost of aviation fuel had risen to N700 per litre from N190 per litre.
The strike was, however, called off after appeals by the Federal Government and stakeholders in the sector.
Isong said: “I am not aware that aviation fuel is sold anywhere at N700 per litre. There has been an intervention by Nigerian National Petroleum Company Ltd., which is now bringing in ATK.
“It gets into tank, all costs together, at about N500 per litre. If we use Ikeja (Murtala Muhammed Airport, local as a bench mark, it is sold there by marketers between N540 and N550 per litre.
“Nobody with common sense will go and bring in ATK now that NNPC is bringing in product and selling it cheap.
because it is swapping it with crude and when it swaps it with crude, it uses Central Bank exchange rate of N419 to a dollar.
“The product is deregulated. So, no normal person can go and get it at that exchange rate. You cannot use N589 (black market rate) to a dollar to bring in the product and sell at N550 per litre.”
According to him, the intervention by NNPC has discouraged marketers from importing aviation fuel because it will be a bad business decision.
“ATK as a product is handled very carefully. It is continuously filtered. It is carried by special trucks, so there are extra handling costs.
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