Nigeria aviation sector don enter serious turbulence as rising JetA1 fuel cost dey threaten airline operations and, as e be, operators don warn say flights fit stop if urgent solution no come. Meanwhile, the crisis don worsen due to high fuel prices, unpaid debts and failed negotiations between stakeholders.
In recent weeks, airlines for Nigeria don struggle to survive as aviation fuel price jump by over 300 per cent since February. As a result, many operators say running flights now don turn loss-making business, with no clear solution in sight.
There are strong signals say airlines fit suspend operations from April 30 after talks between Federal Government and fuel marketers end in deadlock. However, despite intervention efforts, both sides still stand their ground.
Last week, Minister of Aviation, Festus Keyamo, call emergency meeting between airline operators and fuel suppliers to find solution. But unfortunately, the meeting no produce agreement.
Following the meeting, President Bola Ahmed Tinubu approve 30 per cent reduction in aviation-related taxes and debts owed by airlines to government agencies. According to Keyamo, the move na to reduce financial pressure on operators.
However, airline executives argue say tax relief no solve the main issue, wey be high fuel cost. Vice President of Airline Operators of Nigeria, Allen Onyema, talk say fuel marketers must explain the sharp price increase.
“This government don try, but the 300 per cent fuel increase no match global trend,” Onyema talk, adding say airlines fit stop operations within days if nothing change.
Moreover, the financial reality show say airlines wey dey buy fuel for about ₦900 per litre before now dey pay between ₦2,700 and ₦3,500, wiping out profits completely.
At the same time, passengers don begin feel the impact as uncertainty over flight cancellations and delays dey increase across major airports.
In addition, another crisis dey loom as ground handling companies under Aviation Ground Handlers Association of Nigeria threaten to withdraw services over ₦9 billion unpaid debts. If dem carry out the threat, airport operations fit shut down completely.
Furthermore, industry players don propose solutions including six-month suspension of aviation taxes, fuel surcharge system and review of multiple charges in the sector.
Despite the tension, stakeholders still dey hope say last-minute negotiations go prevent total shutdown of Nigeria aviation industry.
