Why are domestic air ticket prices in Nigeria soaring? The Federal Government (FG) says it cannot regulate fares in the country’s deregulated aviation sector, the Minister of Aviation and Aerospace Development, Festus Keyamo, has stated.

Speaking amid public concern over rising airfares, Keyamo explained that the government does not have the legal authority to set, fix, or cap ticket prices, as airlines operate under a fully deregulated framework that allows them to determine fares independently.

He attributed high fares to challenges such as scarcity of aircraft, high leasing costs, foreign exchange pressures, and limited local maintenance capacity.

Instead of price controls, Keyamo said the FG is focusing on increasing aircraft availability and competition, which should gradually reduce fares. Ongoing reforms also aim to improve sector efficiency and attract more cost-effective aircraft leases.

His remarks follow a Senate invitation and public outcry over escalating domestic travel costs. While the government cannot directly control prices, it remains engaged with stakeholders to address the root causes of high ticket prices. Visit www.jocomms.com for more news.