The uncertainty surrounding the Nigerian airline industry has caused many airlines to increase the cost of flight tickets considerably, much to the distress of Nigerian travellers.
In a statement released in June 2022, the International Air Transport Association (IATA), revealed that Nigeria was withholding nearly $500 million in revenue from international carriers operating in the country. These ‘trapped funds’ were the result of a series of central bank policies aimed at restricting access to foreign currency in an attempt to ‘stabilize the naira’. Since the start of the year...
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