President Bola Tinubu yesterday, directed the Central Bank of Nigeria, CBN, to create a platform for quarterly reconciliatory meetings with foreign airlines to address the backlog of their fund.
This Minister of Aviation and Aerospace Development, Festus Keyamo made this disclosure at the ongoing African Aviation Summit in Abuja.
The global trade body representing the airline industry recently queried the federal government for not being responsive to the foreign airlines' inability to repatriate their funds in excess of $600 million. Vanguard gathered that, travellers from Nigeria pay about N2.5 million for economy tickets to London, Heathrow airport, also, flying with KLM Royal Dutch, over N2.6 million flying with Virgin Atlantic, while with Lufthansa which is among the highest at N2.7 million.
"Government welcomes major players in aircraft leasing and head lessors to invest in Nigeria airlines to provide state of the art aircraft. The government will ensure the enforcement of contract agreements and the rights of investors and indeed all parties are protected and Nigeria being a signatory to the Cape Town Convention will uphold international obligations.
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