President Bola Tinubu has approved a series of relief measures for airline operators as rising Jet A1 fuel costs continue to strain Nigeria’s aviation sector.
The development was disclosed on Wednesday by the Minister of Aviation and Aerospace Development, Festus Keyamo, following a high-level meeting with officials from the Federal Ministry of Petroleum Resources, airline operators, and oil marketers.
According to Keyamo, the intervention is aimed at reducing the financial pressure on airlines and preventing a potential disruption of air transport services across the country.
“The decision is part of efforts to provide immediate relief to the sector and prevent a breakdown in air transport services,” the minister said.
The meeting was convened amid growing concerns over the sharp increase in aviation fuel prices, which operators have described as unsustainable and a major threat to continued operations.
As part of the government’s response, the President approved a discount on certain outstanding fees owed by airline operators to the Federal Government. The move is expected to ease operational costs in the short term.
Keyamo also revealed that plans are underway to establish a special committee that will review and possibly reduce multiple taxes and levies currently embedded in airfares.
He explained that the initiative is designed to lessen the burden on both airlines and passengers, while ensuring long-term sustainability in the aviation industry.
The latest intervention comes against the backdrop of mounting tension within the sector, with airline operators previously warning of possible service shutdowns if urgent measures were not taken to address the escalating cost of Jet A1 fuel.
Industry stakeholders have consistently argued that the rising fuel prices pose a serious risk to aviation stability in Nigeria, making government intervention critical at this time.
