President Bola Ahmed Tinubu has approved a 30 per cent reduction in debts owed by domestic airlines to aviation agencies.
Festus Keyamo, the minister of aviation and aerospace development disclosed this on Thursday night, noting that the approval was conveyed through Femi Gbajabiamila. the President’s chief of staff.
“This evening, Mr President has definitely approved a 30 per cent discount,” Keyamo told journalists.
The relief means airlines will now pay significantly less on outstanding obligations to government aviation agencies, including charges owed to the Federal Airports Authority of Nigeria and the Nigerian Airspace Management Agency.
The intervention comes amid mounting concerns over the financial health of local carriers, driven largely by soaring aviation fuel costs.
Earlier, the Airline Operators of Nigeria had threatened to suspend operations, citing the sharp rise in the price of Jet A1 fuel—from about ₦900 per litre in February to over ₦3,300 per litre in recent weeks.
Although the operators later shelved the planned shutdown following government engagement, industry stakeholders have continued to warn of severe strain on airline operations.
Allen Onyema, Chairman of Air Peace had decried the situation, calling for accountability from fuel marketers over the steep increase.
“The truth is that the marketers must be brought to book to explain how they got about the 300 per cent increase,” he said, adding that operators are increasingly relying on borrowing to sustain operations while maintaining safety standards.
Onyema also urged the Federal Government to consider broader support measures, including a full waiver of debts and temporary suspension of payments, to help stabilise the industry.
