Tinubu Grants 30% Airline Debt Reduction, Orders Pressing Assessment Of Gas And Aviation Expenses
Bola Tinubu has intervened in Nigeria’s deepening aviation disaster, approving a 30 % debt reduction for airline operators and directing pressing negotiations on hovering jet gas costs and aviation fees.
The intervention adopted an emergency assembly in Abuja involving the Minister of Aviation and Aerospace Improvement, Festus Keyamo, airline operators, and regulatory businesses over the rising value of Jet A1 gas and the specter of a nationwide shutdown.
Airline operators underneath the Airline Operators of Nigeria had earlier warned that they might droop operations from April 20, 2026, citing what they described as an “astronomical and unsustainable” improve in gas costs.
Following the assembly, Keyamo mentioned he had briefed the President, who instantly directed {that a} formal request be introduced ahead for approval of reduction measures.
“He particularly requested that we convey the request to him very first thing tomorrow and warranted that he’ll personally decide the extent of low cost,” Keyamo mentioned.
He confirmed that Tinubu accredited a 30 % discount in money owed owed by airways to key aviation businesses, together with the Nigerian Airspace Administration Company (NAMA), the Federal Airports Authority of Nigeria (FAAN), and the Nigerian Civil Aviation Authority (NCAA).
The President additionally ordered the formation of a committee to evaluate a number of taxes, levies, and charges affecting home air transport, with a mandate to advocate reductions aimed toward easing operational stress on airways and reducing passenger prices.
In accordance with officers, Tinubu can be anticipated to fulfill airline operators immediately within the coming days to debate broader options, together with entry to cheaper financing for the sector.
The Everlasting Secretary of the Ministry of Petroleum Assets, Endurance Oyekunle, mentioned gas entrepreneurs would even be engaged in follow-up discussions aimed toward stabilising Jet A1 pricing.
“We hope that by tomorrow, by 4 p.m., we might have resolved a few of these points,” she mentioned.
Airline operators, nonetheless, maintained that the scenario remained vital, with Allen Onyema, Chairman of Air Peace, warning that gas costs had risen by about 300 %, putting extreme pressure on operations.
He mentioned airways had been already working underneath {financial} stress and couldn’t proceed with out pressing intervention, stressing that security may very well be compromised if prices stay unchecked.
Operators welcomed the debt reduction but additionally referred to as for broader waivers on excellent obligations and a short lived freeze on additional funds till gas costs stabilise.
Erizia Rubyjeana
Times Nigeria