The Digest:
Minister of Aviation Festus Keyamo has stated that the Federal Government has no power to control or reduce the skyrocketing prices of domestic air tickets. He attributed the situation to the deregulated nature of the aviation sector, emphasizing that the government cannot fix prices for private enterprises.
Key Points:
- Keyamo clarified that the aviation industry operates under a deregulated framework, removing the government's authority to set or cap ticket prices.
- His comments come amid rising public frustration and a recent Senate summons for him and aviation stakeholders to address the fare crisis.
- The minister's position aligns with industry explanations that fare hikes are market-driven, often compensating for lower prices during off-peak seasons.
- The Senate's intervention highlights legislative concern over the affordability and accessibility of air travel for Nigerians.
- Keyamo's stance underscores the tension between market liberalization and public demand for regulatory protection during economic strain.
- The situation reflects broader challenges in balancing free-market policies with social welfare in essential service sectors.
- Stakeholders, including the Aircraft Owners and Pilots Association of Nigeria, maintain that pricing is dictated by operational costs and seasonal demand.
Sources: Daily Post, AIT, Arise TV
