Aviation fuel crisis: Keyamo meets finance minister

The Minister of Aviation and Aerospace Development, Festus Keyamo, has paid a working visit to the Minister of Finance and Coordinating Minister for Economy, Taiwo Oyedele, in a constructive and solution-oriented discussion aimed at mitigating the burden of rising operating costs on national carriers and the recent sharp increase in the cost of aviation fuel (Jet A1).

The meeting, held as part of the reform agenda of the Bola Ahmed Tinubu administration, focused on addressing the critical challenges facing Nigeria’s aviation sector, Blueprint.ng reports.

Special Adviser on Media and Communications to the Minister of Aviation, Tunde Moshood, in a press release issued on Saturday, explained that both ministers recognized that volatility in aviation fuel prices continues to place significant pressure on airlines, with implications on connectivity, passenger traffic and economic productivity.

He said that by exploring reform pathways, ministers have identified key areas of collaboration between their respective ministries to unlock growth opportunities within the aviation ecosystem.

According to him, these include policy alignment, fiscal interventions and innovative financing mechanisms designed to support operators, improve efficiency and attract investment into the sector.

He said the discussions also highlighted the strategic importance of aviation as a catalyst for economic development, trade facilitation, tourism and regional integration.

According to him, both parties reaffirmed their commitment to implement measures that will foster a more resilient, sustainable and globally competitive aviation industry in Nigeria.

It said the ministers agreed to support close collaboration and ongoing engagement with stakeholders to ensure that ongoing reforms translate into tangible benefits for flight operators, investors and the public.

He noted that the 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.