The Federal Government, airline operators, and fuel marketers have failed to reach an agreement on Jet A1 pricing after an emergency meeting in Abuja, setting a 72-hour window to resolve the standoff.
Talks end in deadlock
The meeting, involving the Airlines Operators of Nigeria (AON) and aviation fuel marketers, ended without a resolution, with stakeholders appointing focal representatives to continue negotiations.
Minister of Aviation and Aerospace Development, Festus Keyamo, said the parties would reconvene within 48 to 72 hours to agree on a fair pricing structure.
“The airlines cannot continue for the next several days with the current prices… they have been stretched to limits,” he said.
Pressure mounts despite FG intervention
The deadlock comes shortly after President Bola Tinubu approved a 30 percent debt waiver for airlines, part of broader efforts to cushion the impact of rising operational costs.
However, stakeholders say the relief may not be enough if fuel pricing remains unresolved.
Airlines warn of possible shutdown
Air Peace Chairman and AON representative, Allen Onyema, warned that airlines may be forced to halt operations if urgent action is not taken.
“No airline is going to be flying in the next seven days if something is not done,” he said.
He argued that the spike in Jet A1 prices in Nigeria far exceeds global trends, despite international factors like the US-Iran situation.
“It’s only in Nigeria that we have about 200 to 270 percent increase… while in other parts of the world, it is about 70 percent,” Onyema added.
Regulator signals possible action
Keyamo stressed that while the sector operates under a free market system, pricing must remain reasonable.
“There is a free market… but it is not a licence to go haywire,” he said, hinting at possible regulatory steps if necessary.
72-hour window to resolve crisis
Stakeholders are expected to return with recommendations within three days as the government pushes for a resolution to avoid disruption to flight operations.
The situation continues to dominate latest Nigerian news and breaking news Nigeria today, with concerns growing over the impact on air travel and the wider economy.