FG to Waive Airline Debts Amid Aviation Fuel Crisis

The Nigerian government, under President Bola Tinubu, has announced plans to waive debts owed by domestic airlines to aviation agencies as part of measures to alleviate the ongoing aviation fuel crisis. Aviation Minister Festus Keyamo disclosed this during a high-level meeting in Abuja on Wednesday.

The intervention comes in response to the astronomical rise in jet A1 fuel prices, which have surged by 300 percent, significantly impacting airline operations. Keyamo indicated that President Tinubu has mandated the ministry to quickly bring forward requests for debt waivers and discounts on fees owed to agencies like NAMA, FAAN, and NCAA.

The president expressed appreciation for airlines that have not raised ticket prices despite the crisis. Additionally, a committee will be formed to address the taxation and fees levied on domestic tickets.

Allen Onyema, CEO of Air Peace, highlighted the unsustainable nature of current fuel prices and the financial strain on airlines, urging government support for the aviation sector.