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.
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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.
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“The focus is on practical and sustainable measures that will deliver real relief to operators,” the statement said.
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.
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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.
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