The Minister of Aviation and Aerospace Development, Festus Keyamo, on Wednesday, disclosed key Federal Government interventions aimed at reducing the financial pressure on airlines following rising concerns over the cost of Jet A1 fuel and the threat of service disruptions in the aviation sector.
The Minister made the disclosure after hours of meeting with a delegation from the Federal Ministry of Petroleum Resources, airline operators, and oil marketers, among other stakeholders.
The meeting was convened in response to the sharp increase in aviation fuel prices, which operators say has become unsustainable.
Keyamo stated that President Bola Tinubu has approved a generous discount on certain outstanding fees owed to the Federal Government by airline operators he explained that the decision is part of efforts to provide immediate relief to the sector and prevent a breakdown in air transport services.
He also revealed that in the coming days, the President will constitute a special committee to review and reduce multiple taxes and levies currently embedded in airfares.
According to him, the move is intended to ease the burden on both airline operators and passengers, while improving the overall sustainability of the aviation industry.
The development comes amid growing tension within the sector over the soaring cost of Jet A1 fuel, which operators have described as a major threat to continued operations and aviation stability in the country.
