Obiora Okonkwo, founder and chairman of United Nigeria Airlines, urges the Nigerian government to create a single-digit credit window for airlines, citing multiple government charges and the need for competitive financing.
Obiora Okonkwo, the founder and chairman of United Nigeria Airlines, has urged the Nigeria n federal government to establish a single-digit credit window for airlines to access loans. Okonkwo made this appeal during a press conference in Abuja on Wednesday, marking the 4th anniversary of United Nigeria Airlines. He highlighted the challenges faced by domestic airlines in the sector, particularly the multiple charges levied by government agencies.
Okonkwo emphasized that a single-digit loan window would significantly benefit the industry's growth. He urged the government to reduce these charges, which he estimates to be around 20 different agencies, as the current margins are already very low. He explained that meeting these charges, including those from the NCAA, NAMA, and FAAN, leaves airlines with minimal profit.Okonkwo also noted that the foreign exchange policy implemented by President Bola Tinubu has provided some relief to the airline industry. He stated that the policy has made it easier for airlines to convert naira to foreign currency for international obligations. He acknowledged that flight delays and cancellations are a common problem worldwide and called for passengers to understand their rights and obligations. Okonkwo stressed that while airlines strive to provide excellent service, passenger behavior can sometimes be challenging and stressful. He also touched upon the issue of rising ticket prices, explaining that airlines do their best to subsidize fares for passengers, but this ultimately affects their growth and ability to maintain services. Okonkwo concluded by calling for government support in infrastructure improvement to ease operations and facilitate the airline's expansion plans
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