President Bola Tinubu has disclosed that the Central Bank of Nigeria (CBN) is clearing outstanding obligations owed to foreign airlines, in a bid to strengthen the Nigeria-UK aviation sector relations. The presidential spokesperson, Bayo Onanuga, disclosed this following a meeting with a delegation from British Airways on Wednesday, as the airline celebrates 90 years of operations in Nigeria.
The development was after Minister of Aviation and Aerospace Development, Festus Keyamo, on Wednesday, disclosed key Federal Government interventions aimed at reducing the financial pressure on airlines following rising concerns over the cost of Jet A1 fuel and the threat of service disruptions in the aviation sector.
Keyamo stated that President Bola Tinubu has approved a generous discount on certain outstanding fees owed to the Federal Government by airline operators. He explained that the decision is part of efforts to provide immediate relief to the sector and prevent a breakdown in air transport services.
The President informed the visitors that one of the earliest achievements of his administration was settling outstanding liabilities owed by airlines operating in Nigeria. “You’ve seen that since I assumed office, the outstanding liabilities and other hiccups that are hindrances to our relationship are being resolved by the Central Bank of Nigeria, and we hope to strengthen all of that,” he said.
Tinubu reaffirmed Nigeria’s commitment to deepening economic relations with the UK, particularly in the aviation sector and other mutually beneficial areas. The President, while highlighting the longstanding and productive partnership between both countries, noted that Nigeria places great value on its strategic relationship with Britain.
He particularly reflected on his very recent historic visit to the United Kingdom and the wonderful reception he received from the Royal family, assuring the delegation that the partnership will continue to create opportunities for growth, investment, and shared prosperity.
“It is a very great joy to share with you this afternoon. The transformation and strengthening of our relationship over the past 90 years is a milestone worthy of celebration. And I still relish the memory of my last visit to Great Britain and the wonderful reception I received from His Majesty King Charles III.
I will forever cherish that memory. “We also hold in high regard our relationship with His Majesty the King. His long-standing commitment to sustainability and to strengthening the Commonwealth, particularly the relationship between Nigeria and Great Britain, must continue to enhance cooperation that aligns with our own national priorities.
“I assure you we will continue to do that, and this engagement confirmed the bilateral relations that we’ve enjoyed over the years. Our forebears wanted us to continue,” the President said. President Tinubu acknowledged the critical role of British Airways in fostering economic and people-to-people connections between Nigeria and the United Kingdom, saying that Nigeria is undergoing reforms to strengthen the economy and state institutions.