In a major boost to Nigeria’s aviation sector, President Bola Tinubu has approved a 30 per cent reduction in statutory debts owed by domestic airlines, a move aimed at easing financial strain and sustaining operations amid rising fuel costs.
At a meeting with government officials two days ago, key airline operators sought total debt relief from the federal government.
The relief package covers accumulated charges payable to key aviation agencies, including the Federal Airports Authority of Nigeria (FAAN) and the Nigerian Airspace Management Agency (NAMA), among others.
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Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed that the directive, communicated through Chief of Staff Femi Gbajabiamila, formed part of broader government efforts to stabilise the industry, particularly as airlines grapple with the impact of high Jet A1 fuel prices.
“This intervention is designed to cushion operational pressures on domestic carriers and ensure the continued viability of air transport services across the country,” the Minister stated.
Credit: The Sun
