Oyedele, Keyamo Hold Talks on Jet Fuel Costs as Air Peace Reduces London Flights

Finance Minister Taiwo Oyedele and Aviation Minister Festus Keyamo have held discussions on measures to curb the surging cost of aviation fuel and ease the financial strain on domestic airlines, as the government moves to stabilise the sector and shield passengers from further fare increases.

In a post on X, Oyedele confirmed the talks centred on “the recent sharp rise in the cost of aviation fuel and its impact on airlines’ operations and pricing.” The ministers also explored opportunities to reposition the sector for sustainable growth. “We are committed to building a more efficient and competitive aviation industry that supports economic activity and connectivity,” Oyedele said.

The meeting came days after the Federal Government stepped in to provide relief to carriers. President Bola Tinubu approved a 30 per cent discount on outstanding debts owed by local airlines to aviation agencies, a decision Keyamo announced following a high-level meeting in Abuja that brought together oil marketers, airline operators and regulators amid warnings that rising Jet A1 prices could trigger flight disruptions and fare hikes.

Against this backdrop, Air Peace has trimmed its Abuja–London service to three weekly flights, down from daily operations, citing global aviation fuel supply constraints. In a statement on X, the airline said the adjustment would remain in effect until 1 July and was a precaution to maintain safety and operational reliability. “We recognise this may impact travel plans and deeply appreciate your patience,” the carrier said, assuring passengers it was monitoring the situation closely.

Beyond aviation, Oyedele outlined his broader economic priorities. He said the government was focused on translating ongoing reforms into tangible benefits, with an emphasis on boosting productivity, creating an investor-friendly climate, maintaining fiscal discipline, and improving revenue generation without burdening the vulnerable. “Good policy design alone is not enough; success will be defined by execution,” he said, pledging disciplined implementation and deeper public‑private collaboration to move the economy toward faster, more inclusive growth.