President Bola Ahmed Tinubu has approved a package of financial relief measures for airline operators as rising Jet A1 fuel prices continue to strain Nigeria’s aviation sector.
The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed the development after a high-level meeting with stakeholders, including officials from the Federal Ministry of Petroleum Resources, airline operators, and oil marketers.
The meeting, convened in response to escalating aviation fuel costs, focused on preventing service disruptions and stabilising operations across the industry.
Keyamo said the President approved a generous discount on outstanding fees owed to the Federal Government by airlines, describing it as an immediate intervention to ease financial pressure on operators.
According to him, the move is aimed at preventing a breakdown in air transport services, which industry players have warned could become imminent if cost pressures persist.
He further revealed that the Federal Government will, in the coming days, establish a special committee to review and potentially reduce multiple taxes and levies embedded in airfares.
The proposed review is expected to address long-standing complaints by airlines over overlapping charges, which they argue have made operations increasingly unsustainable.
Stakeholders in the aviation sector have repeatedly raised concerns over the sharp rise in Jet A1 prices, warning that it poses a serious threat to flight schedules, ticket affordability, and overall industry stability.
Industry operators have described fuel costs as the single most critical factor driving up operational expenses, with knock-on effects for passengers already facing high airfare prices.
The latest intervention is seen as part of broader efforts by the Tinubu administration to stabilise key sectors of the economy amid inflationary pressures and rising energy costs.
As of press time, airline operators were still assessing the impact of the announced measures, while awaiting further details on the implementation framework of the relief package.
