The International Air Transport Association has warned the Central Bank of Nigeria that some foreign airlines may be forced to quit the Nigerian aviation market if nothing is done about the $790m ticket revenue currently trapped in the country.
The IATA Regional Vice President, Africa & Middle East, Kamil Alawadhi, at a media presentation with African journalists at the IATA Global Media Day in Geneva, Switzerland, on Thursday said Lagos and Abuja airports had been ranked the most expensive gateways in the region despite the poor state of their infrastructure.
The IATA VP listed Nigeria as the country with the highest amount of airlines’ blocked funds at $792m followed by Egypt ($348m); Algeria ($199m); AFI zone ($183m) and Ethiopia $128mn.
While Ethiopia has mapped out a strategy to pay the debt, he said that Nigeria had yet to do anything on its own.
Al-Awadhi said, “Ethiopia is seeking a way to resolve this issue even though the blocked fund is rising. The first step for us to solve these blocked funds is for both parties to engage. If parties don’t engage, it is very difficult to move forward. I have not been able to engage with Nigeria’s CBN Governor. He said he would engage with me when he had a solution. He is not promising but I have engaged with the Aviation Minister who is very understanding, new to the position, or maybe wowed by the situation he inherited will help to resolve the matter.”
Related: Activist Omoyele Sowore reveals reason for refusing to join Labour Party
Last updated: Just Now
See All Latest Nigerian Music Right Now!!!
Share On:
Top 10 Hottest Songs
Nigerian / African Music Mavo – Aura Salad ft. SSSoundGawd
Nigerian / African Music SSSoundGawd – Hey Mama ft. Mavo, Joshua Baraka
Gospel Music Frank Edwards – Biggest Name (Man of Galilee) ft. Prinx Emmanuel
Nigerian / African Music Tolibian – Ramadan ft. Yinka Ayefele, Bhadboi OML
Nigerian / African Music Zoro Swagbag – Nzogbu ft. Jeriq
Nigerian / African Music Zoro Swagbag – Omo Igbo
Gospel Music Moses Bliss – Your Love II ft. Soweto Gospel Choir
Nigerian / African Music Nasboi – Letter to My Ex ft. Khaid
Nigerian / African Music Guchi – Polo
Gospel Music Chidinma – Goodness and Mercy ft. Prinx Emmanuel