National News – Mounting pressure in Nigeria’s aviation sector has pushed the Federal Government, under President Bola Tinubu, to consider a partial waiver of debts owed by domestic airlines, as operators struggle to stay afloat amid a crippling fuel crisis.
The proposal emerged in Abuja on Wednesday during a high-level intervention meeting convened by Aviation Minister Festus Keyamo, bringing together regulators and airline executives at a moment many feared could trigger a nationwide shutdown of flights.
At the heart of the crisis is the dramatic surge in Jet A1 fuel prices, which has risen from under ₦1,000 per litre in February to over ₦3,300 in recent weeks, a spike industry leaders say is out of sync with global crude oil movements.
This sharp increase has left airlines unable to balance operating costs, forcing difficult decisions between maintaining safety standards and sustaining daily operations.
Carriers, including those led by Allen Onyema, had warned that without urgent intervention, services would be suspended across the country.
In response, the government is weighing immediate financial relief through debt discounts owed to aviation agencies, alongside broader reforms targeting the multiple taxes and levies embedded in ticket pricing.
Officials say a presidential committee will be set up to review and streamline these charges, with a fast-tracked timeline aimed at easing pressure on both operators and passengers.
Across Lagos and other major travel hubs, the reaction reflects cautious optimism.
Passengers fear fare hikes and reduced flight options, while industry analysts argue that although debt waivers may offer temporary breathing space, deeper structural fixes—especially access to affordable financing—remain critical.
Nigerian airlines currently borrow at rates far above global benchmarks, compounding their vulnerability during shocks like the current fuel spike.
The coming weeks will determine whether the government’s intervention can stabilize the sector or merely delay a larger reckoning.
For now, the decision to suspend the planned shutdown signals a fragile truce, as airlines wait to see if promised reforms translate into real relief.
