No Nigerian Airline Made $1 Million Profit in 2025

Allen Onyema, the CEO of Air Peace, announced that no Nigerian airline achieved a profit of $1 million in 2025, attributing this to high operating costs that significantly impact local carriers. Speaking at the 30th annual conference of the League of Airport and Aviation Correspondents (LAAC) in Lagos, Onyema emphasized that expensive aviation fuel and a multitude of taxes, fees, and charges create financial strain on airlines.

He noted that the direct operating cost for running an airline in Nigeria is approximately N180,000 per seat, with aviation fuel constituting over 40% of these costs. Onyema pointed out that airlines face around 54 different taxes and charges from various agencies, which are often passed on to passengers, resulting in higher ticket prices.

He urged for the harmonization of aviation taxes and called for the National Assembly to eliminate the 5% Ticket Sales Charge and replace it with a fixed cost per ticket. Suleiman Idris, LAAC Chairman, echoed the need for better engagement between stakeholders in the aviation sector regarding fiscal and regulatory decisions.