Federal Government Can’t Fix Airfares, Sector Fully Deregulated — Keyamo
The Minister of Aviation and Aerospace Development, Festus Keyamo, on Wednesday, declared that the Federal Government has no legal powers to regulate or fix airfares in the country, insisting that Nigeria’s aviation sector has been fully deregulated for decades.
Speaking to State House correspondents after the Federal Executive Council (FEC) meeting at the Presidential Villa, Keyamo explained that the deregulation of the industry dates back to the administration of former military leader Ibrahim Babangida, when private airlines were first allowed to operate freely, including setting their own ticket prices.
He said the Senate had summoned him over rising airfares, but he was unable to attend because of his presentations at FEC.
The minister, however, disclosed that he instructed the Nigerian Civil Aviation Authority (NCAA) and domestic airlines to appear before the Senate Committee in his absence.
Keyamo stressed that while the government cannot dictate prices in a free market, it remains actively engaged with airlines to address the underlying factors driving high fares
