The Minister of Aviation and Aerospace Development, Festus Keyamo, has described as careless the recent statement by the Federal Competition and Consumer Protection Commission questioning the pricing methodology of Nigerian airline Air Peace.
Keyamo expressed displeasure over the FCCPC’s decision to go public without first consulting the Nigeria Civil Aviation Authority which he described as the primary regulator of the aviation industry.
The FCCPC had summoned executives of Air Peace last week to address allegations of price gouging and poor service delivery but Keyamo, in an interview today, criticised the approach, asserting that proper protocol was not followed.
Keyamo, who further explained that the perceived pricing issues were not a result of exploitation but were tied to structural challenges in the aviation sector, also cited external factors such as the volatile exchange rate, which significantly impacts aviation operations since most expenditures in the sector are dollar-based.
Keyamo however, said there is an ongoing efforts to address the challenges and ease the cost of aircraft acquisition and improve airline capacity, which includes leveraging the Cape Town Convention to negotiate better terms for accessing aircraft.
Keyamo also disclosed plans to lead a Nigerian delegation to Dublin in January 2025 to meet with global airline financiers.
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