President Bola Tinubu has approved a 30 per cent reduction in debts owed by domestic airlines to federal aviation agencies, in a move aimed at easing financial pressure on operators and stabilising the aviation sector.
The decision was announced by the Minister of Aviation and Aerospace Development, Festus Keyamo, who noted that the intervention is part of broader efforts by the Federal Government to support local carriers struggling with rising operational costs.
According to the minister, the relief is intended to provide immediate financial respite for airlines facing challenges, particularly due to the high cost of aviation fuel and other industry-related expenses.
In addition to the debt reduction, the Federal Government has also initiated discussions among key stakeholders, including fuel marketers, airline operators, and regulators, to address the pricing of Jet A1 fuel and ensure a more sustainable framework for the industry.
Officials said the move is part of a wider strategy to prevent disruptions in airline operations and maintain stability within Nigeria’s aviation sector, which has recently come under strain from escalating costs.
The intervention underscores the administration’s commitment to supporting critical sectors of the economy while ensuring the continued provision of essential air transport services across the country.
