FG moves to ease airlines’ cost burden as Keyamo, Oyedele meet in Abuja
Add us on Google The Nigerian government has initiated fresh efforts to address mounting cost pressures in the aviation sector, following a meeting between the Minister of Aviation and Aerospace Development, Festus Keyamo, and the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele. The meeting, held in Abuja on Saturday, focused on practical steps to reduce the operational burden on domestic airlines amid rising costs, particularly the persistent volatility in aviation fuel prices. In a statement issued by the aviation minister’s Special Adviser on Media and Communications, Tunde Moshood, both ministers acknowledged that fluctuations in the price of aviation fuel continue to exert significant pressure on airlines, affecting route connectivity, passenger traffic, and overall sector performance. According to the statement, the discussions were centred on identifying workable solutions to stabilise the industry and ensure the sustainability of local carriers. Stay Ahead with Premium Times Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting. Add as a preferred source on Google /* 1. Wrapper & Container / .gn-wrapper { width: 100%; padding: 20px 0; display: flex; justify-content: center; } .gn-card { width: 100%; max-width: 600px; background: #ffffff; padding: 28px; border-radius: 16px; border: 1px solid #e0e0e0; box-shadow: 0 4px 12px rgba(0,0,0,0.08); font-family: 'Segoe UI', Roboto, Helvetica, Arial, sans-serif; } / 2. Header & Premium Times Logo / .gn-header { display: flex; align-items: center; gap: 14px; margin-bottom: 16px; } .gn-logo { height: 36px; / Slightly larger to balance the new text sizes / width: auto; object-fit: contain; } .gn-title { font-size: 22px; margin: 0; color: #1a1a1a; font-weight: 800; } / 3. 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PREMIUM TIMES earlier reported that more airlines may shut down if the rising cost of aviation fuel persists, despite interventions by President Bola Tinubu. The warning was issued by the Chairman of Air Peace, Allen Onyema, who said the current operating environment is becoming increasingly unsustainable for local carriers. Airline operators say rising aviation fuel costs continue to threaten their survival, as mounting expenses eat deep into already thin margins. The impact is also beginning to affect passengers. On Saturday, some passengers of Air Peace lamented flight delays and repeated rescheduling, linking the disruptions to ongoing fuel constraints. Industry stakeholders say the situation is forcing airlines to adjust schedules and scale back operations, raising fresh concerns about reliability and overall passenger experience. The ministers explored areas of collaboration, including policy alignment, fiscal interventions, and innovative financing mechanisms aimed at improving liquidity, enhancing efficiency, and attracting investment into the aviation sector. READ ALSO: Airport Cashless Policy: Keyamo urges Nigerians to exercise patience They also emphasised the broader economic role of aviation, noting that the industry remains critical to trade facilitation, tourism development, and regional integration. Both parties reaffirmed their commitment to implementing reforms that would strengthen the sector and position Nigeria’s aviation industry for long-term growth and global competitiveness. As part of the next steps, the ministers agreed to sustain close collaboration and continuous engagement with key stakeholders to ensure that proposed reforms translate into tangible benefits for airlines, investors, and passengers. The government said the shift towards coordinated policy action and financing solutions is expected to ease operational pressures on airlines and improve service delivery across the sector. Share this: Click to share on X (Opens in new window) X Click to share on Facebook (Opens in new window) Facebook Click to share on WhatsApp (Opens in new window) WhatsApp Click to share on Telegram (Opens in new window) Telegram Click to share on LinkedIn (Opens in new window) LinkedIn Click to email a link to a friend (Opens in new window) Email Click to print (Opens in new window) Print Stay Ahead with Premium Times Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting. Add as a preferred source on Google / 1. 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