Lawmakers call for urgent action on aviation fuel price surge
The House of Representatives has urged the Federal Government to address the escalating cost of aviation fuel, which is putting domestic airlines under significant financial strain. Paschal Agbodike highlighted that fuel costs are a major burden for airlines, making up a large portion of their expenses. Lawmakers warned that the situation could lead to airlines reducing operations or even collapsing, with serious consequences for the economy and jobs. The House called for immediate measures to stabilise jet fuel prices and support the aviation sector.
TLDR
- The House of Representatives called on the Federal Government to intervene in rising aviation fuel costs.
- Paschal Agbodike stated that fuel accounts for 40–60% of airline operating expenses.
- Lawmakers warned that airlines are cutting back flights or grounding aircraft due to high costs and foreign exchange issues.
- The House urged relevant ministries and agencies to create a price-stabilisation plan and investigate the price surge.
- The Central Bank of Nigeria was asked to prioritise foreign exchange for airlines to help with maintenance and operations.
