The Federal Government has intensified efforts to stabilise Nigeria’s aviation sector amid surging aviation fuel prices, introducing measures aimed at easing financial strain on airlines and shielding passengers from potential fare increases.
The intervention follows high-level talks between the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Minister of Aviation and Aerospace Development, Festus Keyamo, over mounting challenges in the industry.
In a statement shared on X, Oyedele revealed that both ministers engaged in “constructive discussions” focused on the sharp rise in Jet A1 fuel costs and its ripple effects on airline operations and ticket pricing. He noted that the government is also exploring long-term strategies to reposition the aviation sector for sustainable growth, efficiency, and competitiveness.
As part of immediate relief efforts, authorities approved a 30 per cent discount on outstanding debts owed by domestic airlines to aviation agencies. The decision, endorsed by President Bola Tinubu, is expected to ease liquidity pressures on struggling carriers.
The announcement came after a crucial stakeholders’ meeting in Abuja involving oil marketers, airline operators, and regulators, amid fears that escalating fuel costs could disrupt flight schedules nationwide.
Domestic airlines had earlier warned of possible service reductions and fare hikes if the situation remained unresolved—raising concerns about reduced connectivity and increased travel costs for Nigerians.
Beyond aviation, Oyedele outlined the administration’s broader economic priorities, emphasising the need to translate ongoing reforms into tangible benefits. Key focus areas include boosting productivity, fostering an investor-friendly environment, maintaining fiscal discipline, and improving revenue generation through fair and balanced taxation.
He also underscored the importance of stronger inter-agency coordination and deeper collaboration with the private sector to enhance policy execution.
“Good policy design alone is not enough—success will be defined by execution,” Oyedele stated, reaffirming the government’s commitment to accountability, measurable outcomes, and inclusive economic growth.
The Federal Government says it remains focused on moving from reform plans to real-world impact, with the goal of delivering a more stable and resilient economy while keeping critical sectors like aviation afloat.
