Concession will help airlines clear backlog – NANTA

The National Association of Nigerian Travel Agents (NANTA) has said the decision by the Central Bank of Nigeria (CBN) to grant a concession to foreign airlines on access to foreign exchange will help them clear the backlog of unremitted funds in various banks in Nigeria. Accordign to a release jointly signed by President of the […]

The National Association of Nigerian Travel Agents (NANTA) has said the decision by the Central Bank of Nigeria (CBN) to grant a concession to foreign airlines on access to foreign exchange will help them clear the backlog of unremitted funds in various banks in Nigeria.
Accordign to a release jointly signed by President of the association, Mr. Bankole Bernard and Publicity Secretary, Mr. Olumuyiwa Salami Adebayo the move would invariably create opportunities for Nigerians to enjoy more affordable travel since
The release said: “Travel agencies will no longer be compelled to sell in dollars as we have seen in the earlier part of the year. This would invariably reduce the cost of tickets.”
According the release the Association said: “We want to commend the Minister of Aviation and authorities at the Central Bank of Nigeria (CBN) for the forex concession that were recently granted to airlines. We are happy that our advocacy on the importance of government implementing favourable policies in the aviation sector is beginning to pay off.”
NANTA also advised that government: “focus on the domestic carriers by creating an aviation intervention fund to help them stabilise and compete with their peers in other markets. Government should alsoconsider granting licenses to companies that intend to set up Maintenance, Repairs and Overhauling (MRO) facilities in the country as this would help in arrears of developing manpower, by offering training simulations to our personnel within the industry.”