Tinubu Approves 30% Debt Waiver for Nigerian Airlines

President Bola Ahmed Tinubu has approved a 30% debt waiver for airlines in Nigeria, a move aimed at alleviating the financial pressures faced by the aviation sector amid a spike in jet A1 fuel prices. The announcement was made by Festus Keyamo, the Minister of Aviation and Aerospace Development, following a meeting with airline operators under the Airlines Operators of Nigeria (AON).

The debt relief will cover accumulated debts, including parking charges payable to the Federal Airport Authority of Nigeria and navigational charges owed to the Nigerian Airspace Management Agency. This intervention is part of the federal government's broader efforts to cushion the impact of the ongoing jet A1 fuel crisis, which has significantly increased operational costs for domestic carriers.

The meeting, which included Tund Moshood, Special Adviser on Media Communications, emphasized the administration's commitment to stabilizing the aviation industry and ensuring the continued viability of domestic air transport services across the country.