The Federal Government has proposed a reduction in debts owed by domestic airlines as part of efforts to ease rising operational costs and avert a shutdown in the aviation sector.
The proposal followed a closed-door meeting involving the Ministries of Aviation and Aerospace Development, Petroleum Resources, and the Airline Operators of Nigeria.
While the percentage cut is yet to be announced, airline operators say the proposal falls short, insisting on a total waiver of debts to stay afloat.
They also called on oil marketers to clarify current pricing, linking the financial pressure on airlines to global uncertainties around the Strait of Hormuz.
The government says the planned debt relief is part of immediate measures to stabilise the sector, particularly amid rising aviation fuel costs.
Officials from the petroleum ministry added that consultations are ongoing, with fuel marketers expected to join further discussions within 24 hours to find a sustainable solution.
(Editor: Ada Ononye)
