Is the World Getting Smaller for Nigerians?

The uncertainty surrounding Nigeria’s airline industry has caused many airlines to increase the cost of flight tickets considerably, much to the distress of travelling Nigerians.

Written by Chukwudi Ukonne

Aug 30, 2022

The Republic.

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, Nigeria’s currency has lost over 10 per cent of its value against the dollar.

On August 18, Dubai-based Emirates Airlines announced it would be suspending services to Nigeria, from September 1. According to the official statement on the airline’s website:

Emirates has tried every avenue to address our ongoing challenges in repatriating funds from Nigeria and have made considerable efforts to initiate dialogue with the relevant authorities for their urgent intervention to help find a viable solution. Regrettably there has been no progress.

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About the Author

Chukwudi Ukonne

is a writer, designer and creative strategist with a keen interest in Nigerian history. He is a pioneer candidate of the inaugural cohort of The School of Politics, Policy and Governance.

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Is the World Getting Smaller for Nigerians?