Strong indications have emerged that airline operators in Nigeria may soon increase ticket prices or suspend operations following the collapse of a 48 hour negotiation with the Federal Government over the ongoing aviation fuel crisis. The deadlock comes despite a 30 percent debt discount approved by President Bola Tinubu to ease financial pressure on the sector.
The relief package targets debts owed to key aviation agencies such as the Nigerian Civil Aviation Authority and the Nigerian Airspace Management Agency. Minister of Aviation and Aerospace Development Festus Keyamo described the measure as emergency support designed to cushion the impact of soaring aviation fuel costs rather than a subsidy.
Aviation fuel prices have surged by nearly 300 percent, placing significant strain on airline operations. Industry stakeholders warn that the government intervention may not be enough to prevent a major disruption.
After a closed door meeting in Abuja that lasted four hours, Keyamo revealed that all parties including airline operators oil marketers and regulators agreed to form technical teams to work on a sustainable pricing framework. He assured that updates would be provided within 72 hours.
However airline operators remain deeply concerned. Allen Onyema Vice President of the Airline Operators of Nigeria described the situation as critical warning that airlines may shut down within days without urgent action. He stressed that fuel costs alone have become unbearable and operations are no longer sustainable.
Meanwhile the Nigerian Midstream and Downstream Petroleum Regulatory Authority says efforts are ongoing to review pricing structures and balance supply with industry survival. The outcome of upcoming negotiations will determine whether the sector avoids shutdown or passengers face higher fares.
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