Federal Government has unveiled a set of emergency measures to cushion the impact of soaring aviation fuel prices on airline operators, as concerns mount over possible disruptions to flight services across the country.
Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed the intervention on Wednesday following an extended meeting with stakeholders, including representatives from the Federal Ministry of Petroleum Resources, airline operators, and oil marketers.
The meeting was convened in response to the persistent rise in the cost of Jet A1 fuel, a development operators have repeatedly warned is pushing the industry to the brink.
Keyamo revealed that President Bola Tinubu has approved a significant concession on some outstanding financial obligations owed by airlines to the Federal Government. According to him, the move is designed to provide immediate financial relief and stabilise operations within the sector.
He noted that the intervention forms part of broader efforts to avert a potential breakdown in air transport services, which could have far-reaching consequences for the economy.
In addition, the minister announced that the President is set to establish a special committee in the coming days to review the array of taxes and levies currently embedded in ticket pricing. The committee will be tasked with identifying areas where costs can be reduced to ease pressure on both operators and passengers.
The planned review is expected to address long-standing concerns about multiple charges in the aviation sector, which stakeholders say have contributed to high airfares and strained airline finances.
The latest measures come amid heightened anxiety across the industry, as the escalating cost of Jet A1 fuel continues to threaten operational sustainability. Airline operators have consistently described the situation as critical, warning that without urgent intervention, flight reductions or service interruptions could become inevitable.
With the new relief package and proposed policy adjustments, the Federal Government appears to be taking decisive steps to stabilise the sector and restore confidence among operators and travellers alike.
