The Minister of Aviation and Aerospace Development, Festus Keyamo, has announced a series of Federal Government interventions aimed at easing financial pressures on airline operators amid rising aviation fuel costs.
Keyamo made the disclosure on Wednesday after a high-level meeting involving officials from the Federal Ministry of Petroleum Resources, airline operators, and oil marketers, convened in response to escalating Jet A1 fuel prices.
The Minister said the meeting was necessitated by growing concerns within the aviation sector over the unsustainable rise in operating costs, which operators warn could disrupt air transport services.
He revealed that President Bola Ahmed Tinubu has approved a “generous discount” on certain outstanding fees owed to the Federal Government by airline operators as part of immediate relief measures.
According to him, the intervention is designed to prevent service disruptions and provide short-term financial breathing space for operators struggling with high fuel and operational costs.
Keyamo also disclosed that the President will, in the coming days, set up a special committee to review and reduce multiple taxes and levies currently embedded in airfares across the country.
He said the planned review aims to reduce the burden on both airlines and passengers while improving the long-term sustainability of Nigeria’s aviation industry.
Industry stakeholders have raised concerns in recent months over the sharp increase in Jet A1 fuel prices, which they describe as one of the biggest threats to airline operations and sector stability.
Aviation analysts say the rising cost of fuel has significantly increased ticket prices and placed pressure on carriers already grappling with foreign exchange constraints and high maintenance costs.
The government’s intervention is expected to provide temporary relief while broader structural reforms in aviation taxation and fuel supply are being considered.
