Chairman of Air Peace, Allen Onyema, has sounded a stark warning that more Nigerian airlines could shut down within days, despite recent intervention by President Bola Ahmed Tinubu aimed at easing the sector’s financial burden.
Speaking on News at 10 on TVC News, Onyema acknowledged the Federal Government’s 30 per cent debt reprieve for domestic carriers as a positive step, but made it clear that it barely scratches the surface of a deepening crisis threatening the industry’s survival.
“We appreciate Mr President for being magnanimous enough to offer us a 30 per cent reprieve… That’s a very welcome development,” he said, noting that the current administration has shown more support than previous governments.
However, he stressed that the real danger lies elsewhere.
“For the avoidance of doubt, I want Nigerians to know that the airlines are not after the government. Government is not our problem,” Onyema stated.
According to him, the skyrocketing cost of aviation fuel—Jet A1—has become unbearable, driven largely by market forces rather than direct government policy. He revealed that prices have surged from about N900 per litre before recent geopolitical tensions to as high as N3,500 per litre in some cases.
“Before the crisis, we were buying fuel at about N900 per litre. Now it has risen to between N2,700 and N2,900, with some selling as high as N3,300 to N3,500,” he said, describing the increase as over 250 per cent.
The impact, he explained, has pushed airlines into a corner where operations are now focused almost entirely on covering fuel expenses, leaving little room for sustainability.
“All the airlines in Nigeria have been flying to pay fuel marketers only, and you don’t want to compromise safety,” he added.
Onyema warned that the situation is rapidly deteriorating, revealing that at least two more airlines are on the verge of collapse.
“We want to meet with Mr President because as I speak to you now, about two more airlines want to go down by Monday. It is very urgent that we meet with Mr President so that he will hear from us,” he said.
While the government’s debt relief, covering obligations such as airport charges and navigational fees—offers some breathing room, operators insist it does little to address the core issue of fuel affordability and availability, which continues to threaten the entire aviation sector.
