Due to certain challenges, some airlines were forced to limit their operations in the country
Last year, Nigeria’s aviation sector grappled with a lot of challenges ranging from hikes in JetA fuel and airfare; regulatory, institutional and structural challenges; challenges of poor infrastructure; poor access to financial incentives; inability to repatriate funds; as well as underfunding of the industry.
As aviation fuel prices and forex scarcity worsened further in August, domestic airlines pegged their minimum fare at N70, 000 and above. A review of air tickets prices across major domestic airline companies such as Air peace, Ibom Air, Max Air, and Azman among others then showed that the minimum prices for air tickets rose by at least 40 per cent from N50, 000 it was selling in February when the aviation fuel crisis surfaced.
In a letter addressed to the Minister of Aviation, Hadi Sirika, and the Nigerian Civil Aviation Authority, airline operators complained about the operational challenges and how it has hindered progress in the aviation industry. “The airlines must enter an MoU on how they will pay their debts in the next 30 days from August 30th, 2022 or their licence will be suspended at the expiration of the deadline,” NCAA Director General Musa Nuhu said during a meeting with representatives of the local carriers in August last year.Amidst lingering scarcity of foreign exchange in the country, last year, some foreign airlines threatened to halt operations to and from Nigeria.
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