Airline Operators of Nigeria (AON) has demanded a total waiver of debts owed to aviation agencies in order to cushion the effect of 300 per cent increase in aviation fuel prices.
AON made the demand during a crucial high-level meeting with the minister of aviation and aerospace development, Festus Keyamo and other critical stakeholders in Abuja on Wednesday.
Speaking at the meeting, chairman of Air Peace, Dr. Allen Onyema,who spoke on behalf of airline operators said airlines were “bleeding” financially due to the disproportionate hike in fuel costs, which he said had risen by about 300 per cent compared to global crude oil price movements.
According to him, “We are asking for a total waiver of all debts owed to aviation agencies. The airlines are under severe strain and cannot continue to borrow just to pay for fuel while neglecting critical obligations like maintenance.”
He explained that the threat to suspend operations was not a bargaining tactic but a reflection of the dire financial realities facing operators.
According to him, airlines had reached a breaking point where continued operations would compromise safety and sustainability.
Onyema also called for urgent reforms in access to financing, noting that high interest rates—often above 30 per cent in Nigeria—were crippling airline operations, compared to single-digit rates obtainable globally.
Reacting to this, the minister confirmed that the federal government had stepped in swiftly to prevent disruption to air travel, following the operators’ warning.
He said that he had briefed President Bola Ahmed Tinubu ahead of the meeting and secured presidential backing for immediate intervention.
Keyamo said the president had directed that formal requests from the airlines be submitted urgently, particularly regarding debt relief.
Meanwhile, the permanent secretary, Ministry of Petroleum Resources (Oil), Patience Oyekunle, said engagements with fuel marketers would continue, with a follow-up meeting scheduled to address pricing concerns and seek clarity on the steep increase.
