By Onyeka Ezike
The President of the National Association of Nigerian Travel Agencies (NANTA), Mr. Yinka Folami, has expressed optimism that the dollarisation of the aviation sector will soon become a thing of the past, noting that the era of selling airline tickets in foreign currency is gradually fading as the government addresses key issues affecting the industry.
Speaking on Creative Nigeria, a cultural and tourism programme aired on Mainland 98.3 FM, Lagos, and hosted by Frank Meke alongside Bunmi Bade-Adeniji, Mr. Folami asserted that “there is no need to sell in foreign currency again,” describing the practice as outdated and economically harmful.
He urged Nigerians to rally behind Air Peace, describing the airline as a symbol of national pride. Folami commended the carrier for “taking the bull by the horns” with the successful launch of its Lagos–London route, stressing that supporting Air Peace is a patriotic duty that can strengthen Nigeria’s aviation sovereignty.
“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. I am happy to inform Nigerians that the government is squarely addressing the issue of ticket sales in foreign currency, and that is the latest update on the matter,” he stated.
The NANTA president lauded the Federal Government’s economic reforms and the Central Bank of Nigeria (CBN) for stabilizing the naira and promoting transparency in the foreign exchange market.
“The outlook for Nigeria is stable, and even the World Bank and International Monetary Fund (IMF) have commended the economic policies of this government. The gap between the official and parallel market rates is closing, liquidity has improved, and there is more transparency in the process,” Folami noted
He emphasized that stakeholders in the aviation and travel sectors must complement government efforts through proactive collaboration.
“We must congratulate the government, but the best way to do that is for us — industry players — to give life to whatever the government is doing. The government will not come into our sector to make the change; it is our responsibility to build on the progress already made,” he added.
Mr. Folami disclosed that NANTA has over 3,500 members, with nearly 70 percent being youths, adding that government reforms at the micro level could yield tangible benefits if more Nigerians patronize local travel agencies and airlines.
However, he lamented that some foreign airlines’ continued sale of tickets in foreign currency still sidelines several qualified NANTA-certified members from direct trade, despite their global accreditation.
During the discussion, Mr. Yusuf Babalola, an aviation journalist, observed that the real challenge lies in policy enforcement.
“No airline is being owed; they make their money and repatriate it. Yet, they keep doing what they’re doing,” Babalola said. “In Japan, it is against the law to spend foreign currency. From entry, you must exchange your money for Yen. We need political will to enforce similar policies here.”
Also contributing, Ms. Chinelo Agina-Obogo cited Section 20(5) of the CBN Act of 2007, which makes it an offence for any individual or organization to accept the dollar as a means of payment within Nigeria. She noted that enforcement remains the key challenge.
In his remarks, Mr. Chinedu Eze commended Air Peace’s Lagos–Heathrow route, describing it as a major milestone for Nigeria’s aviation industry. He, however, called for consistent government policies to ensure foreign airlines adhere to local regulations.
“What makes Air Peace’s London operations special is the government’s full support. Without that, local airlines cannot attain such heights. Some foreign airlines use public relations tactics to sway narratives in their favour. The government must remain firm in supporting local carriers,” Eze said.
Programme host Frank Meke praised Air Peace for its resilience and called for fairness and transparency in the aviation sector.
“Until we begin to name names and correct the wrongs, we will keep going in circles. Many travel agencies are frustrated by this dollarisation issue, but with Air Peace in the mix, there’s hope. If the foreign airlines can’t play by our rules, they should ship out,” Meke declared.
He also noted that the policy reform that enabled Air Peace to secure its London route was hard-won, given the international politics involved.
In his closing remarks, Mr. Folami urged airlines to upgrade their technology systems and review the harsh Airline Debit Memos (ADMs) and penalties imposed on agents, describing them as “outrageous and counterproductive.”
“The goal is a fair, transparent, and sustainable aviation system that works for everyone — airlines, agents, and passengers alike,” he concluded.
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