April 23 (Reuters) - Nigerian President Bola Tinubu has approved a 30% relief on debts owed by local airlines to aviation agencies and ordered talks involving fuel marketers, airlines, and regulators to reach a fair jet fuel price within 72 hours, Aviation Minister Festus Keyamo said on Thursday.
o Domestic airlines warned they could no longer continue operations without raising ticket prices after jet fuel prices rose nearly 300%.
o Representatives from government, airlines, fuel marketers, and regulators will meet within 48-72 hours to agree on what the minister described as "fair and reasonable" pricing for jet fuel, with any outcome to be made public.
o Soaring jet fuel prices have upended the global aviation industry as a consequence of the Iran war, forcing airlines to raise fares, curb growth plans and rethink forecasts.
(Reporting by Camillus Eboh in Abuja; Writitng by Elisha Bala-Gbogbo; Editing by Nia Williams)
By Camillus Eboh
