The House of Representatives and the Airline Operators of Nigeria (AON), on Monday, agreed that aviation fuel would be supplied to the airlines at N480 per litre for at least, three months.

At a meeting convened by the Speaker of the House, Femi Gbajabiamila, it was agreed that six million litres of aviation fuel would be made available at the rate of N480 per litre to the operators through the intervention of the Central Bank of Nigeria (CBN).

The meeting had in attendance  the Group Managing Director of the Nigerian National Petroleum Company, (NNPC), Mele Kyari, the CBN Governor, Godwin Emefiele, Vice President of the AON, Allen Onyema, and other stakeholders.

Airlines had planned to suspend flight operations from last Monday till further notice over the cost of fuel, which they said cost N700 per litre. The plan was later suspended after intervention from the Minister of Aviation, Hadi Sirika and other stakeholders

As a long term measure, the meeting also resolved that the operators would begin the process of application for their licence to import jet fuel directly for their operations.

“The NNPC and the airline operators both agreed that, in the interim of three months, the marketers of choice that you are comfortable with and you know their markup will not drive you out of business would be supplied with jet fuel.

“The third resolution is that in the mid-to-long term, in fact, right now, you will begin the process of application for your own license, for you to be able to import your own jet fuel, to assist you in your business. Also, to the benevolence of the CBN governor, six million litres are available now at N480.”