Sahara Group’s Sobanjo Highlights Forex Impact on Aviation Fuel at Vienna Forum

Asharami Synergy Limited, a downstream company of Sahara Group in Nigeria, said the stability of the foreign exchange market will have a positive impact on the aviation fuel market by reducing product costs.
Sahara Group Head of Downstream Africa, Foluso Sobanjo, said this at the International Air Transport Association Aviation Energy Forum held recently in Vienna, Austria.
In a statement made available to Journalists by Sahara Group Head of Corporate Communications, Bethell Obioma on Monday, Sobanjo said that the aviation fuel sector will benefit from adequate refining capacity, foreign exchange stability, cheaper sources of financing, and infrastructure development.
He said, “The stability of the foreign exchange market will have a positive impact on the aviation fuel market by reducing product costs, resolving airline liquidity issues, and assisting in the repatriation of foreign airline investments, stimulating further investment.”
He said suppliers must be able to get credit at a fair price, which would encourage investment in key infrastructure such as tank farms, petrol pumps, and trucks.
“This will improve operational capacity and logistical efficiency, thereby supporting the sector’s long-term growth and healthy competitiveness,” he explained.

Sobanjo also called for investment in infrastructure through various public-private partnerships and collaborations between all stakeholders, including IATA, airlines, the Federal Airports Authority of Nigeria, and oil traders, to promote sustainable regulation, growth, and development of the sector.
Sobanjo attributed Ashalami’s outstanding performance in the aviation fuel market to its commitment to safety, technology-led solutions, and environmental sustainability, stressing that the company has an outstanding track record in the Nigerian market for 20 years.
“Asharami Synergy is Nigeria’s leading aviation fuel provider with over 20% market share. The company has multiple certifications from the International Organisation for Standardisation in recognition of its commitment to excellence, quality, and safety.”
We currently have a nationwide storage capacity of about 31 million litres, as well as a fleet of 20 tankers, all owned and operated by Asharami, with capacity expansion plans underway. We are constantly innovating to provide superior Jet A1 solutions,” he explained.

Sobanjo added that Ashalami Synergy provides tailored solutions to the operations of domestic and international airlines in Nigeria. “Our hallmarks of excellence and safety make Ashalami the responsible supplier of choice for aviation fuel in the Nigerian market,” he said.
Ashalami Synergy CEO Nomunso Dike also spoke in Vienna, saying the company has been a strategic partner of IATA since 2009, adding that the company’s diversified product supply chain facilitates market availability and competitive pricing.
“We are continually investing in technology to improve the efficiency of our business, which is why we introduced this solution, which will increase efficiency through digitized tracking of aircraft refueling operations while contributing to reducing CO2 emissions.”
“Furthermore, our dashboard tracks and analyzes customer consumption patterns, allowing us to accurately forecast demand and ensure consistent product availability to meet all delivery commitments. This allows our customers to trust Asharami to ensure responsible and seamless supply,” he explained.
Reporters recalled that the price of aviation fuel increased from about 300 naira per litre to about 1,000 naira per litre in February 2022. This has led to a significant increase in ticket prices since then.