23.1 C
23.1 C

IATA accuses Nigeria of blocking repatriation of $450m foreign airline revenue




Share this story

The International Air Transport Association (IATA) has accused the Nigerian Government of preventing foreign airlines from repatriating the sum of $450 million (about N188.6 billion)  earned from ticket sales to their respective countries.

IATA’s Regional Vice President, Africa & Middle East Kamil Al-Alawadhi, made this known on Sunday during a press briefing, against the backdrop of the opening of its 78th Annual General Meeting and World Air Transport Summit in Doha, Qatar.

Al-Alawadhi told journalists that aviation was key to Nigeria’s economic growth, noting that the aviation sector was responsible for the creation of thousands of jobs and it will be wrong for the Nigerian government to deny carriers the opportunity to repatriate their revenue.


Aviation fuel crisis: Airline cancels flight, as AON again threatens strike

Aviation fuel crisis: Nigerian airlines threaten to discontinue flights from May 9

China plane crash: Airline’s website turns black to honour dead passengers

- Advertisement -

Update: Nigeria approves resumption of winter flights for Emirates Airlines

“We heard that there is a shortage of dollars. It has been a hectic ride. We met with the Vice-President. We will keep checking. This is going to damage the image of the country. We are hoping that it will go down well. The figure is huge”.

The amount of foreign airlines’ blocked funds in Nigeria estimated at $208 million in the third quarter of last year has more than doubled by the second quarter of 2022.

Al-Alawadhi stated that cash flow was key for sustainability of aviation business, adding that airlines’ inability to access adequate foreign exchange in Nigeria is a rapidly increasing obstacle.

“Nigeria needs to start reducing the backlog. The Central Bank of Nigeria was not forthcoming on the blocked funds. It is sad that Nigeria owes the bulk of the entire blocked funds. This is very unacceptable,” he said.

The IATA Regional Vice President disclosed that $1 billion in airline funds was blocked by 20 countries worldwide and of this, more than $700 million was tied up in 11 African countries, with Nigeria accounting for the largest amount withheld by any African nation.

He further said that IATA officials would visit the country soon to meet with government officials over the blocked funds.

Support the ICIR

We invite you to support us to continue the work we do.

Your support will strengthen journalism in Nigeria and help sustain our democracy.

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.



Student critic apologises to Aisha Buhari, deactivates social media accounts

A STUDENT Aminu Adamu has apologised to the wife of the President, Aisha Buhari,...

No elected federal official, appointee will earn more than civil servants – Peter Obi

LABOUR Party (LP) presidential candidate, Peter Obi, has said no federal public servant, including...

Naira redesign: Presidential endorsement not sufficient to legitimise process – Falana

HUMAN rights lawyer, Femi Falana, has faulted the recent endorsement of the naira redesign...

ECOWAS to get new complex in Abuja by 2025

NIGERIAN President Muhammadu Buhari has laid the foundation of the new ECOWAS Headquarters Complex...

2023: Peter Obi promises to increase power generation to 25,000mw by 2025

LABOUR Party (LP) presidential candidate, Peter Obi, has promised to increase the country's power...

Most Read


Subscribe to our newsletter