The International Air Transport Association (IATA) has reported that the Nigerian government’s blockage of foreign airlines’ revenue has increased to $743 million from $662 million in January 2023.
The group and global airline community wrote to the government seeking intervention for resolving the airlines’ blocked funds issue.
This has caused challenges in Nigeria’s aviation sector, including a hike in airfare, and has far-reaching effects on travel agents and other downstream sectors.
IATA has called for a resolution to the blocked funds issue before the current administration leaves office to mitigate its negative impacts.
