Foreign airlines in Nigeria will start selling tickets in dollars

APG Interline E-Ticketing (APG IET), an airline services companyannounced on Wednesday that it will start selling air tickets in US dollars from April 19 amid currency shortages in Nigeria. “Dear fellow travelers, cordial greetings from APG. This is to inform you that as of April 19, 2022, GP will only accept ticketing in US dollars and not Naira,” APG IET said in a travel advisory to its trading partners. The group said the move was made necessary due to the difficulty of repatriating airline funds stalled in Nigeria and other countries, coupled with currency fluctuations. “This is mainly due to repatriation problems and the foreign exchange situation in the country. It will most likely be a temporary measure until the forex market situation improves,” the firm said. This comes less than three weeks after Nigerian aviation minister Hadi Sirika called on the federal government to give local and foreign airlines access to foreign currency. trapped funds Last month, Sirika called on the Nigerian government to to ease the repatriation of ticket proceeds trapped in Nigeria. The minister said that Nigeria currently has $283 million in foreign airline funds in the country. “The aviation business suffers from foreign exchange problems from local and foreign airlines and their inability to repatriate blocked funds. Nigeria currently has $283 million in foreign airline funds in the country. I humbly ask for the support of the Central Bank of Nigeria through the directives of President Muhammadu Buhari, to facilitate the access of foreign and local airlines to foreign exchange,” the minister said. According to the Bilateral Air Services Agreements (BASA) with the countries, airline tickets are mainly sold in naira, while the airlines would repatriate the funds in dollars through the country’s central bank. In 2018, the federal government authorized $600 million of blocked funds, but there has been a backlog ever since. Analysts say the APG IET decision may worsen the challenges faced by air travelers in Nigeria who may have to obtain black market currency to buy their tickets. Notable operators on APG IET platforms include; South African Airways, South African Airways, Fly Dubai, Kenya Airways, Middle East Airlines, Royal Air Maroc, Rwandair, Thai Airways, Turkish Airlines, French Bee, Egypt Air, ASKY, Air Seychelles, Air Algerie and Air Namibia. Others are Air Panama, Air Burkina, Avianca, Bangkok Airways, Cabo Verde Airlines, Fiji Airways, Hong Kong Airlines and Malaysian Air, among others. Some of the airlines that fly directly to Nigeria are South Africa Airways, Turkish Airlines, Asky Airlines, Egypt Air, Royal Air Maroc, Middle East Airlines, Rwandair and Kenya Airways. Read More Related News Here Let here it in the comment below if you do have an opinion on this; Foreign airlines in Nigeria will start selling tickets in dollars