After 48 hours of negotiation, airlines, fuel marketers, and regulators under the umbrella of the Airline Operators of Nigeria (AON) have agreed to break into smaller groups, with the goal of agreeing on a reasonable pricing framework, following the Jet-A1 price crisis.
The Minister of Aviation and Aerospace Development of Nigeria, Festus Keyamo, after a closed door meeting on Thursday in Abuja said authorities have now set 48 to 72-hour window for all parties to reconvene after internal consultations.
The minister said the meeting marked the first direct engagement between airline operators and fuel marketers, describing it as a crucial step toward transparency and cooperation.
According to him, both sides openly discussed their challenges, including allegations of price inflation and the rising cost pressures affecting operations.
He said airlines expressed concern that the current pricing of aviation fuel is unsustainable, noting that they have been stretched to the limit.
The marketers had warned that without immediate intervention, flight operations could halt within the next seven days not out of choice, but due to financial constraints.
Fuel marketers, on their part, outlined their own operational difficulties, insisting that pricing reflects underlying market realities.
In a related development, the minister said President Bola Ahmed Tinubu has approved a 30% discount on outstanding debts owed by airlines to aviation agencies such as FAAN and NAMA.
He clarified that this is not a subsidy but a relief measure to ease financial pressure on operators.
🚨Watch The Full Video ➤
