IATA: Foreign airlines trapped funds in Nigeria now $783m (businessday.ng)

IATA: Foreign airlines trapped funds in Nigeria now $783m


The International Air Transport Association (IATA) has said the foreign airlines trapped funds in Nigeria is $783 million.

This comes just as the IATA DG has welcomed the commitment of the Federal Airports Authority of Nigeria (FAAN) to improving infrastructure and service levels at Lagos’s Murtala Muhammad International Airport within twelve months.

This follows a number of safety, security and passenger service level concerns in Lagos airport raised by IATA member airlines over the past year.

Commending FAAN,.Al Alwadhi said:“We welcome FAAN’s commitment to upgrade Lagos airport. It is the main domestic and international hub connecting Nigeria with the rest of Africa and beyond and needs to keep up with demand. This strategic focus not only enhances the aviation sector but also serves as a catalyst for Nigeria’s broader economic and social advancement. IATA stands ready to support the FAAN with expertise to ensure international standards are met through the corrective action plan”.

Al Awadhi also met with Festus Keyamo, Nigeria’s new Minister of Aviation and Aerospace Development, during which he called on the President Bola Tinubu government for continued, but closer, consultation with the industry while developing short- and long-term solutions for foreign exchange access to both domestic and foreign airlines.

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