Abuja — President Bola Tinubu has approved a 30% reduction on debts owed by Nigerian airlines to aviation agencies and directed urgent talks to stabilise jet fuel prices, Aviation Minister Festus Keyamo announced Thursday.
The move comes as domestic carriers warn they may be forced to hike ticket fares or halt operations after jet fuel costs soared nearly 300%, squeezing margins and threatening service continuity.
Keyamo said representatives from government, airlines, fuel marketers, and regulators will meet within 48–72 hours to agree on a “fair and reasonable” fuel pricing framework. Any outcome, he added, will be made public.
The crisis reflects wider turbulence in the global aviation industry, where soaring fuel costs — driven in part by the ongoing Iran war — have forced airlines worldwide to raise fares, cut growth plans, and revise forecasts.
Tinubu’s intervention aims to ease financial pressure on local carriers, restore confidence in the sector, and ensure affordable air travel for Nigerians.