Minister of aviation and aerospace development, Festus Keyamo, on Saturday, paid a working visit to the minister of finance and coordinating minister of the economy, Taiwo Oyedele, at his office in Abuja with the aim of addressing the raising cost of aviation fuel.
The meeting, held within the framework of the reform agenda of the administration of Bola Ahmed Tinubu, focused on addressing critical challenges confronting Nigeria’s aviation sector, with particular emphasis on the recent sharp rise in the cost of aviation fuel (Jet A1) and its far-reaching impact on airline operations, ticket pricing, and overall industry sustainability.
Special adviser to the minister of aviation and aerospace development, Tunde Moshood, who confirmed the meeting Saturday night, said both ministers engaged in constructive and solution-driven discussions aimed at mitigating the burden of rising operational costs on domestic carriers while ensuring that the sector remains viable and competitive.
According to him, “They acknowledged that the volatility in aviation fuel prices continues to exert significant pressure on airlines, with implications for connectivity, passenger traffic, and economic productivity.
“In exploring pathways for reform, the ministers identified key areas of collaboration between their respective ministries to unlock growth opportunities within the aviation ecosystem. These include policy alignment, fiscal interventions, and innovative financing mechanisms designed to support operators, enhance efficiency, and attract investment into the sector.
“The discussions also underscored the strategic importance of aviation as a catalyst for economic development, trade facilitation, tourism, and regional integration. Both parties reaffirmed their commitment to implementing measures that will foster a more resilient, sustainable, and globally competitive aviation industry in Nigeria.”
Moshood further stated that the ministers agreed to sustain close collaboration and continuous engagement with relevant stakeholders to ensure that ongoing reforms translate into tangible benefits for operators, investors, and the flying public, noting that this working visit marks another step in the federal government’s coordinated efforts to stabilize the aviation sector and position it as a key driver of national economic growth.
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