Nigeria TV Info 

Tinubu Approves 30% Debt Waiver for Local Airlines

President Bola Ahmed Tinubu has approved a 30 percent debt waiver on outstanding statutory fees owed by domestic airlines to key aviation agencies, in a move aimed at stabilising Nigeria’s struggling aviation sector.

The decision, announced by the Minister of Aviation and Aerospace Development, Festus Keyamo, covers accumulated liabilities such as parking charges payable to the Federal Airports Authority of Nigeria (FAAN) and navigational fees owed to the Nigerian Airspace Management Agency (NAMA), alongside other regulatory obligations.

According to the Federal Government, the intervention is part of broader efforts to ease financial pressure on local carriers grappling with rising operational costs, particularly the sharp increase in Jet A1 aviation fuel prices.

Industry stakeholders have widely welcomed the development, describing it as a timely relief that could help airlines remain operational and avoid service disruptions. The government also signalled plans to engage fuel marketers, regulators, and airline operators to negotiate fair fuel pricing and review multiple taxes and levies affecting the sector.

The move follows threats by airline operators to suspend operations due to escalating costs, with authorities stepping in to prevent a potential shutdown of domestic air travel services.

Officials say the debt relief underscores the administration’s commitment to ensuring the sustainability of Nigeria’s aviation industry, safeguarding jobs, and maintaining reliable air transport services across the country.