AON describes suspension of 4% FOB levy as boost to aviation sector
Air transport
Abdullateef Fowewe
The Airline Operators of Nigeria (AON) has applauded President Bola Tinubu and Finance Minister, Wale Edun for the timely suspension of the 4% Free on Board (FOB) levy on imports, calling it a decisive move to protect the aviation industry and support Nigeria’s economic growth.
In a statement released Tuesday, AON said, “This suspension is a clear demonstration of President Tinubu’s commitment to creating a business-friendly environment, protecting critical sectors of the economy, and promoting sustainable growth.”
They emphasised that the levy, if implemented, “would have had severe consequences for airlines in Nigeria, leading to higher operating costs, further straining an industry already contending with multiple economic challenges.”
The association singled out Wale Edun for praise, describing him as “an exemplary leader and a listening Minister who has shown deep patriotism and responsiveness by heeding the concerns of stakeholders.”
They noted that “his decision reflects a strong commitment to carrying out the mandate of the President with diligence, sensitivity, and fairness to all sectors of the economy.”
AON added that the suspension is a “bold and thoughtful intervention” that will “go a long way in safeguarding the aviation sector, protecting jobs, reducing inflationary pressures, and ensuring that Nigeria remains competitive in the global business environment.”
Reiterating their dedication, AON said they “reaffirm its commitment to working closely with the government to strengthen the aviation industry and contribute to the realisation of President Tinubu’s vision for economic growth and national development.”
