The Nigerian government is taking steps to address rising aviation fuel costs, as Taiwo Oyedele and Festus Keyamo hold talks to reduce pressure on airlines and stabilise the sector.

Oyedele, Minister of Finance and Coordinating Minister of the Economy, said discussions with Keyamo focused on the surge in aviation fuel prices and its impact on airline operations and ticket pricing. He noted that the government is working towards building a more sustainable, efficient, and competitive aviation industry.

The talks come amid broader efforts to reposition the sector for growth and protect passengers from rising airfares.

As part of immediate intervention measures, authorities approved a 30 percent discount on debts owed by domestic airlines to aviation agencies. The decision, announced by Keyamo, was approved by Bola Tinubu following a high-level meeting in Abuja involving airline operators, regulators, oil marketers, and other stakeholders.

The move is expected to provide financial relief to local carriers facing mounting operational costs driven by expensive Jet A1 fuel.

Amid these challenges, Air Peace has reduced its Abuja–London flights to three times weekly due to aviation fuel supply constraints.

In a statement, the airline said the adjustment is temporary and will remain in place until July 1, citing the need to maintain safety and operational reliability. It added that full flight frequency is expected to resume after that date.

Before the change, Air Peace operated daily flights on the route.

The airline acknowledged that the reduction may affect passengers’ travel plans but assured customers it is working with relevant stakeholders and closely monitoring the situation.

Officials warned that sustained high fuel costs could lead to further service cuts or fare increases if unresolved, raising concerns about reduced connectivity and higher travel expenses.

Beyond aviation, Oyedele also outlined broader economic priorities, including improving productivity, maintaining fiscal discipline, boosting revenue generation, and ensuring fair taxation. He stressed the importance of coordination across government institutions and collaboration with the private sector to ensure effective policy implementation.

He added that the government remains focused on translating economic reforms into tangible outcomes that support growth and stability.