“Government Cannot Regulate Airfare Prices for Private Enterprises,” Says Aviation Minister Festus Keyamo as Domestic Airfares Soar to ₦1 Million

Aviation Minister Festus Keyamo has asserted that the government lacks the authority to set prices for private sector companies, including those in aviation.

During an appearance on Arise TV, Keyamo remarked, “The government has absolutely no power to fix prices for private enterprises, including the aviation industry.” He noted that the recent surge in airfare prices falls outside of the government’s jurisdiction, as the aviation sector has been fully deregulated.

Keyamo highlighted that due to this deregulation, airlines are now responsible for determining their own fares, and the government cannot interfere in these pricing decisions. He encouraged the public to recognize that ticket prices are influenced by market dynamics and the operational realities within the aviation industry.

In closing, the Minister reaffirmed that while the government can offer support through policies and infrastructure, it does not have the authority to regulate ticket prices, leaving fare adjustments to the discretion of the airlines.