Aviation: EX-NANTA Vice Chairman Adewale sends SOS to FG over non-release of over $450m flight ticket sales

…says airline business collapse imminent

Former vice Chairman of National Association of Nigeria Travel Agencies (NANTA) Otunba Segun Adewale has raised eyebrows on non-release of ticket sales monies to airline operators by the federal government, describing it as an attempt to kill legitimate businesses and commerce that abounds in the travels and tour sector.
Adewale the CEO Aeroland Travels Limited cited his concern about the issue in a chat with newsmen at his office on Friday.
According to him well over $450m revenues from ticket sales, which accumulated since last year till July 2022 is blocked by the Nigerian government through the CBN from being repatriated to airline operators through the International Air Transport Association (IATA).
“The repatriation of revenues from all tickets sold to travellers by airline operators to their home offices is the responsibility of CBN but unfortunately they have refused to release equivalence in dollars for service already rendered.
“This money has been withheld since last year, attendant of which we have lost so many airlines and equally leading to loss of jobs and businesses in the travel agencies, airlines, those working at the airports and the entire aviation sector are not spared.
“I am speaking as a former vice Chairman of National Association of Nigeria Travel Agencies (NANTA), if our people can’t utter a word because they are being tipped by government, I will speak out.
“The development is inimical to our economic wellbeing as a nation, from the spiritual angle of thought, it is wrong to muzzle the ox that threads the corn but that is what the Federal government is doing by the deliberate seizure of forex since last year.
Adewale who was clearly piqued by the turn of event, raised a poser on why this moves on forex by Federal government did not affect importation of non-essentials.
“The blockage has already led to reduction of air connectivity and restriction of flights ticket is in full swing,
“Mind you government is giving the same forex to their cronies who import the non-essentials like Champagne,Moet,Hennessey and even tooth picks, BTAs are also approved to thousands of Nigeria to travel on the same foreign airlines, while this airlines are denied monies already earned for rendering services.
Adewale said that the trend recently signals the President Buhari led government is out to further kill businesses in Nigeria, as the aviation sector and particularly airlines and other affiliated agencies bears the brunt.
“Transportation is essential, if this is grounded now, businesses will be shifted to neighbouring countries like Ghana and Benin Republic, those airlines still operating here are restricting flight tickets, those flying seven days not barely fly one day.
“The issue is so difficult for the operators, who now borrowed forex from their home office abroad to fuel their airplanes.
“With the increase in dollar rate leading to rise of flight ticket prices, especially enroute American and Dubai, which is now over a million naira, the environment is getting hostile more and more for business to thrive.”
“I appeal to the Minister of Aviation, Finance and most especially the CBN Governor to do the needful and ensure release of forex.”

Champagne,Moet,Hennessey and even tooth picks, BTAs are also approved to thousands of Nigeria to travel on the same foreign airlines, while this airlines are denied monies already earned for rendering services.Adewale said that the trend recently signals the President Buhari led government is out to further kill businesses in Nigeria, as the aviation sector and particularly airlines and other affiliated agencies bears the brunt.“Transportation is essential, if this is grounded now, businesses will be shifted to neighbouring countries like Ghana and Benin Republic, those airlines still operating here are restricting flight tickets, those flying seven days not barely fly one day.“The issue is so difficult for the operators, who now borrowed forex from their home office abroad to fuel their airplanes.“With the increase in dollar rate leading to rise of flight ticket prices, especially enroute  American and Dubai, which is now over a million naira, the environment is getting hostile more and more for business to thrive.”“I appeal to the Minister of Aviation, Finance and most especially the CBN Governor to do the needful and ensure release of forex.”