Tinubu Approves Debt Relief for Nigerian Airlines

In Abuja on Wednesday, President Bola Tinubu approved a partial write-off of debts owed by domestic airlines to federal aviation agencies, following urgent talks with operators facing crippling increases in jet fuel prices. The decision came during a high-level meeting convened by Aviation and Aerospace Development Minister Festus Keyamo, averting a planned nationwide suspension of flight operations that airlines had threatened to begin on April 20.

The Airline Operators of Nigeria, representing about a dozen mainly domestic carriers, had warned of the shutdown due to jet fuel costs surging more than 300 percent since late February, from around 900 naira per liter to over 3,300 naira. Operators attributed the hike to global tensions in the Middle East, including disruptions near the Strait of Hormuz, a key oil shipping route handling one-fifth of the world's supply. However, they accused local fuel marketers of inflating prices disproportionately compared to international crude oil movements, which had risen above 115 dollars per barrel before easing below 100 dollars.

Keyamo, who briefed Tinubu ahead of the meeting, said the president directed airlines to submit formal requests...