Video: Govt can’t control airfare prices, Keyamo says as Senate demands action
Festus Keyamo
Abdullateef Fowewe
The Nigerian government insists it has no authority to regulate private airline fares following soaring ticket prices this festive season.
Video: Government can’t control airfare prices, Keyamo says as Senate demands action
Speaking, Minister of Aviation and Aerospace Development, Festus Keyamo, emphasised that “the government has absolutely no power to fix prices for private enterprise, including the aviation industry.”
He reminded the public that the aviation sector has been deregulated since the era of former military president Ibrahim Babangida, who allowed private airlines to operate freely with pricing determined by market forces.
Keyamo explained, “The moment Babangida said private airlines can come in and fly, they deregulated in terms of pricing and all that, just like a free market.”
The Nigerian Senate has earlier reacted strongly to reports of airfare hikes exceeding 300 to 400 percent.
Senate President Godswill Akpabio called for “rapid intervention,” describing the situation as an “astronomical increase in airfare” that “should be addressed immediately.”
The Senate has summoned Keyamo along with industry stakeholders to appear before the Committee on Aviation to discuss remedial measures.
Senator Patrick C. Obieze noted, “The Senate condemns the sudden abysmal rise or increase in airfares and resolves to invite all relevant stakeholders, including the Minister of Aviation.”
The escalating costs have sparked public outcry, placing pressure on regulators and airlines to find solutions.
