Festus Keyamo, minister of aviation and aerospace development, has stated that President Bola Tinubu has approved a 30 percent discount on debts owed by domestic airlines to aviation agencies.
Keyamo announced the development on Thursday, adding that the decision was made to lessen the strain that airline operators were under due to growing operating expenses.
He further stated that the consent was communicated at a formal meeting.
“So this evening, Mr. President just communicated to us through the Chief of Staff, while we were at the meeting, that he’s granting a 30 percent discount to all airlines,” Mr. Keyamo said.
According to DAILY POST, the discount covers key aviation agencies, including the Federal Airports Authority of Nigeria (FAAN), the Nigerian Civil Aviation Authority (NCAA), and the Nigerian Airspace Management Agency (NAMA).
The federal government took the decision after the aviation minister chaired a recent meeting with key industry stakeholders.
Nigerian airlines had earlier warned that rising aviation fuel prices could force them to halt operations or increase airfares.
To prevent service disruptions, they also urged aviation agencies to waive their debts.
Backstory…
This follows Airline Operators of Nigeria (AON) warning that airlines across the nation may suspend operations due what it describes as an “astronomical and unsustainable” rise in the price of JetA1 fuel.
The price went from ₦900 per litre on February 28 to ₦3,300 per litre.
The agency claims that the spike is “artificial” and significantly outpaces worldwide trends, pointing out that the price of crude oil has only increased by roughly 30% globally during that time.
Additionally, the group warned that fuel marketers’ actions were “decimating the aviation industry” and endangering Nigeria’s national security, economy, and safety.
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