The Federal Government of Nigeria is set to halt the sale of airline tickets in foreign currencies by international airlines operating in the country. This move was announced by Yinka Folami, President of the National Association of Nigerian Travel Agencies (NANTA), during a cultural and tourism program in Lagos. Folami described the practice of selling tickets in foreign currencies as a “crime against the economy,” because it puts pressure on the Nigerian naira and foreign exchange reserves.
According to Folami, the government is addressing the contentious issue of ticket sales in foreign currencies, which travel agencies have long regarded as unfair and contrary to regulations. The practice creates an uneven playing field for local airlines, and Folami argued that a strong Nigerian carrier is necessary to compete with international airlines and stabilize the aviation industry.
The decision to end the sale of tickets in foreign currencies is seen as a step toward promoting the growth of local airlines and supporting the national economy. Folami emphasized the importance of a robust Nigerian airline industry, citing Air Peace’s launch of routes from Lagos and Abuja to London. He urged Nigerians to support the airline, stressing that it is a patriotic responsibility to ensure its success and sustainability.
The move is expected to have a positive impact on the Nigerian economy by reducing pressure on foreign exchange and encouraging the use of the local currency. It also represents a boost to the country’s aviation sector, which has faced challenges in recent years. With government intervention, the industry is anticipated to become more competitive and attractive to investors. How international airlines will adapt to the new regulations and what effect this will have on Nigeria’s overall aviation landscape remains to be seen.
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