Adebayo Obajemu
The Central Bank of Nigeria (CBN) has started clearing outstanding obligations owed to foreign airlines. President Tinubu recently disclosed that the move was in an effort to strengthen the Nigeria-UK aviation sector relations.
The presidential spokesperson, Bayo Onanuga, disclosed this following a meeting with a delegation from British Airways on Wednesday, as the airline celebrates 90 years of operations in Nigeria.
The development was after Minister of Aviation and Aerospace Development, Festus Keyamo, on Wednesday, disclosed key Federal Government interventions aimed at reducing the financial pressure on airlines following rising concerns over the cost of Jet A1 fuel and the threat of service disruptions in the aviation sector.
Keyamo stated that President Bola Tinubu has approved a generous discount on certain outstanding fees owed to the Federal Government by airline operators.
He explained that the decision is part of efforts to provide immediate relief to the sector and prevent a breakdown in air transport services.
The President informed the visitors that one of the earliest achievements of his administration was settling outstanding liabilities owed by airlines operating in Nigeria. “You’ve seen that since I assumed office, the outstanding liabilities and other hiccups that are hindrances to our relationship are being resolved by the Central Bank of Nigeria, and we hope to strengthen all of that,” he said.
Tinubu reaffirmed Nigeria’s commitment to deepening economic relations with the UK, particularly in the aviation sector and other mutually beneficial areas.