Femi Otedola Reveals Possible Cause of Recent Air Crashes in Nigeria

 

Chairman of Forte Oil Plc, Mr Femi Otedola believes the incessant incidences of plane crashes in Nigeria may not be far from the substitution of jet fuel with household kerosene (HHK) which poses a grave danger to the aviation system in Nigeria.

 

He revealed this yesterday, Wednesday, 2nd of September in Abuja. He attributed the illegal act to the unprecedented rise in the price of kerosene in Nigeria. He also addressed a letter on the issue to the Federal Government.

 

“The sale of HHK as substitute for Jet A1 fuel by some petroleum marketers to airlines is a rising trend that needs to be curbed,” Otedola said.

 

He also noted that HHK is sold by the PPMC at the ex-depot and regulated price of N40.90 with the objective of selling to the average Nigerian at the pump price of N50 litre.

 

However, because it (HHK) shares some physical and chemical properties with Jet A1 fuel, it is being sold by some petroleum marketers to both local and international airlines at the international market price which may be as high as N140/litre.

He said this huge arbitrage has led to the evolution of some mushroom aviation fuel marketers who see this as an opportunity to make big profit.