The Federal Government is taking decisive steps to prohibit foreign airlines from selling tickets in United States dollars within Nigerian territory, according to Yinka Folami, President of the National Association of Nigerian Travel Agencies (NANTA).
Speaking on the matter, Folami characterized the practice of conducting cross-border transactions in foreign currency as detrimental to the nation’s economic stability, describing it as “a crime against the economy.”
The NANTA president acknowledged the persistent challenges facing Nigeria’s aviation sector, attributing them partly to the absence of a robust domestic carrier capable of competing effectively with international operators. However, he expressed optimism about the government’s current intervention.
“Those of us in the aviation space understand that until we have a strong Nigerian carrier to stand in the gap, these issues will persist,” Folami stated. “I am happy to inform Nigerians that the government is squarely addressing the issue of ticket sales in foreign currency, and that is the latest update on the matter.”
Folami further emphasized that the dollar-based pricing strategy employed by foreign airlines contravenes existing regulations and places undue pressure on both the naira and the country’s foreign exchange reserves.
The anticipated policy shift represents part of broader efforts by Nigerian authorities to strengthen the local currency and regulate foreign exchange transactions within the aviation industry.
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