President Bola Tinubu has said the Central Bank of Nigeria (CBN) is settling outstanding obligations owed to foreign airlines to strengthen aviation ties between Nigeria and the United Kingdom.
The President’s spokesman, Bayo Onanuga, disclosed this after a meeting with a delegation from British Airways, which is marking 90 years of operations in Nigeria.
The development comes as the Minister of Aviation and Aerospace Development, Festus Keyamo, outlined Federal Government measures to ease financial pressure on airlines amid rising Jet A1 fuel costs and concerns over possible service disruptions.
Keyamo said the President had approved discounts on certain outstanding fees owed by airline operators to provide immediate relief and stabilise the sector.
Tinubu noted that clearing airline liabilities was among the early actions of his administration, adding that the CBN is addressing issues that previously strained relations with international carriers.
“We are resolving outstanding liabilities and other bottlenecks hindering our relationship, and we expect this to further strengthen ties,” he said.
The President reaffirmed Nigeria’s commitment to deepening economic relations with the UK, particularly in aviation, describing the long-standing partnership as strategic and mutually beneficial.
He also highlighted ongoing reforms in the aviation sector and broader economy aimed at meeting global standards, boosting trade, and enhancing people-to-people connections.
Tinubu commended British Airways for its role in linking Nigeria and the UK over the past nine decades and expressed optimism about stronger collaboration.
In his remarks, British Airways representative Colm Lacy described Nigeria as a key market, noting that the airline’s operations since 1936 have supported trade, investment, and cultural exchange.
He also praised the CBN for addressing foreign exchange challenges and restoring confidence among international airlines, as well as the professionalism of Nigeria’s aviation regulators.
The UK High Commissioner to Nigeria, Richard Montgomery, welcomed the milestone and commended recent engagements between both countries, noting that new agreements are expected to boost trade and investment ties.
