In a move to avert the looming exit of foreign airlines from operating in the country, Minister of Information, Lai Mohammed, has disclosed plans by the government to release over $464 million stuck funds owned by foreign airlines.
Minister said relevant authorities of the government have escalated action on the issue assuring that very soon the matter will be history.
This is heart-warming for the carriers that had mounted pressure on the government to accelerate the release of their funds that have caused them untold hardship.
Some of the affected airlines are considering measures such as suspension of flight services and others threatening to cut down flight frequencies to minimize their losses.
United Arab Emirates carrier- Emirates Airlines had already issued a notice of flight suspension effective September 1, 2022.
The International Air Transport Association (IATA), last week criticized the Nigerian Government for holding over $464 million as proceeds of ticket sales by airlines operating in the country.
According to the Minister: “The Federal Government is aware of the issue and action is being taken. I can assure you that relevant authorities are working on it. Very soon the matter will be resolved.”
The Minister, who gave the indication while touring Lagos airport, described the new terminal as one of the poster projects of the government in its critical infrastructure drive.
He claimed that no other administration has shown enough commitment to change the narrative about the aviation sector.
