The federal government says it is taking steps to stop foreign airlines from selling their tickets in US dollars within Nigeria. “The ‘dollarisation’ of the aviation sector will soon become a thing of the past,” said National Association of Nigerian Travel Agencies (NANTA) President Yinka Folami. Travel agencies have repeatedly complained that when foreign carriers insist on dollars rather than naira, it undermines Nigeria’s currency and places extra strain on consumers.
Folami described ticket sales in foreign currency as a crime against the economy, noting that until a strong Nigerian carrier fills the gap, problems like these will persist. “Those of us in the aviation space understand that until we have a strong Nigerian carrier to stand in the gap, these issues will persist.” He encouraged Nigerians to support local airlines, such as Air Peace, which recently launched London routes from Lagos and Abuja, so the country can better leverage its own currency.
Travel agents have warned of job losses if dollar-only ticketing continues, pointing out that about 70 per cent of agents are excluded when airlines refuse to transact in naira. Moreover, cross-border ticketing and dollar pricing contribute to loss of revenue and weakening of the naira.
By shifting ticket sales into naira, the government aims to reduce dollar demand and limit capital outflows, bolstering currency stability. The move could also help retain airline-related revenue and taxes within Nigeria, strengthen the domestic travel sector and lessen pressure on dwindling foreign exchange reserves.
