- The minister attributed high ticket prices to the impact of exchange rates on aviation, including maintenance costs
Minister of Aviation and Aerospace Development Festus Keyamo has unveiled plans to reduce airline ticket prices in Nigeria.
Keyamo announced on Arise TV that his ministry will assist domestic airlines in accessing aircraft at more affordable rates, thereby reducing ticket prices.
The minister attributed high ticket prices to the impact of exchange rates on aviation, including maintenance costs. To address this, Keyamo’s ministry will facilitate access to global aircraft markets, enabling airlines to acquire aircraft on favorable terms.
Nigeria’s compliance score has risen from 49% to 75.5% due to efforts to improve market access. This achievement has earned Nigeria an invitation to a major global aircraft meeting in Dublin, January 12-18, where Keyamo will lead a delegation comprising airlines, insurance companies, and National Assembly leaders.
Keyamo emphasized the significance of this meeting, stating that major aircraft financiers and leasers will be present. Nigeria’s improved compliance score is credited to President Bola Ahmed Tinubu’s policies.
This development follows previous initiatives by Keyamo’s ministry aimed at enhancing service delivery and environmental cleanliness at Nigerian airports.