Many Nigerians are beginning to cut costs of flying following the high cost of air tickets and the boycott of the country’s airspace by some foreign airlines.
The Punch reports that some Nigerians are starting to fly to neighbouring countries to cut costs.
Nigerians have been lamenting the increased cost of air tickets caused by the high cost of aviation fuel.
Some airlines hiked their fares to as high as 100 percent citing the cost of running businesses.
The high ticket cost has worsened the plight of travellers, especially as foreign airlines have started to boycotting Nigerian airspace due to the debt being owed them by the Central bank of Nigerian.
The Nigerian government reportedly owes foreign airlines about $600 million, which the airlines cannot repatriate to their foreign countries.
The Central Bank of Nigeria has cited the scarcity of forex for the non-repatriation of funds by foreign airlines.
Last week, Emirate Airlines stopped its operations in Nigeria beginning September 1, 2022.
According to the airline, due to the ongoing challenges in repatriating funds from Nigeria and has made enough efforts to initiate dialogue with the Nigerian authorities for urgent intervention and has not made any progress.
The raging controversy over funds trapped in the country may snowball into a stalemate as $600 million trapped in the vaults of the Central Bank of Nigeria has become the highest owed by any country in the world.
According to the Tribune, as of March 2022, the
trapped fund was $285 million.
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