Tinubu approves 30% debt waiver for local airlines
President Bola Ahmed Tinubu has approved a 30 percent discount on outstanding statutory fees owed by domestic airlines to aviation agencies. The intervention , which has received industry-wide commendation, has
President Bola Ahmed Tinubu has approved a 30 percent discount on outstanding statutory fees owed by domestic airlines to aviation agencies.
The intervention , which has received industry-wide commendation, has been described as a decisive move aimed at alleviating operational pressures within Nigeria’s aviation sector.
The relief, which is contained in a statement by the Minister of Aviation and Aerospace Development, Festus Keyamo covers accumulated debts including parking charges payable to the Federal Airports Authority of Nigeria (FAAN), navigational charges owed to the Nigerian Airspace Management Agency (NAMA), as well as other regulatory obligations.
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The intervention, Keyamo said, comes as part of the Federal Government’s broader efforts to cushion the impact of the ongoing Jet A1 fuel crisis, which has significantly increased operating costs for domestic carriers.
Keyamo, disclosed that the presidential directive was formally conveyed through the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila.
According to the minister, the initiative underscores the administration’s commitment to stabilising the aviation industry, safeguarding airline operations, and ensuring the continued viability of domestic air transport services across the country.
Industry experts say the move will go a long way in alleviating the myriad of challenges facing local airlines.
