The aviation industry in recent times has witnessed a series of challenges ranging from the inability to get their funds repatriated and aviation fuel shortages, all leading to flight disruptions.
Some airline operators, like Emirates Airlines, have announced the suspension of flights due to some of those challenges. Although, specifically, Emirates cited its inability to repatriate its foreign exchange revenues from Nigeria as the major reason behind its decision.
Emirates had stated two weeks prior that around $85 million of this cash was in Nigeria.
Also, TechEconomy understands that over 20 foreign airlines worth at least $600 million have had their flights to Nigeria barred since the year began.
On Friday, the House of Representatives summoned the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, and the Ministers of Finance and Aviation, Zainab Ahmed and Hadi Sirika, respectively, to a stakeholder meeting to address some of the issues.
The Clerk of the House, Yahaya Danzaria, noted that the stakeholders’ meeting was necessary after briefing the Green Chamber leadership on the alarming notice of withdrawal of services recently issued by some international aircraft operators in the nation.
According to Danzaria, the Speaker has instructed the House Management and Nnoli Nnaji, the chairman of the Committee on Aviation, to immediately schedule a meeting with all parties involved in the aviation industry and the executive branch of government to discuss urgent solutions to the problems at hand.
Other critical stakeholders invited are Special Adviser to the President on Ease of Doing Business, Director General of Nigerian Civil Aviation Authority (NCAA), country representative of International Air Transport Association (IATA), Emirate Airline Country Manager, and chairman, Banking and Currency Committee of the House.
The Clerk stated that Speaker requests all parties in the matter, specifically Emirates Airlines to suspend any action and await the outcome of the meeting.
