As fuel prices rise and operational expenses surge, airline operators are alarmed that a one-hour local flight within Nigeria might soon come with a hefty price tag of N250,000.
Obiora Okonkwo, the spokesperson for the Airline Operators of Nigeria (AON) and Chairman of United Nigeria Airlines, shared this concern in an interview yesterday on the ‘Morning Show’ on the ARISE NEWS Channel.
Highlighting the escalating cost of operations, Okonkwo emphasised that this could inevitably lead to a surge in airfares. Passengers could find themselves shelling out up to N250,000 for a ticket on a route like Lagos to Abuja.
“If you find airfares expensive, you might need to grasp local operators’ challenges fully. Given the relentless rise in costs, it’s not unreasonable to expect that a trip from Lagos to Abuja could indeed cost around N250,000,” Okonkwo explained.
He strongly advocated for local airlines to gain access to foreign exchange through a dedicated channel facilitated by the Central Bank of Nigeria (CBN).
Addressing the foreign exchange problem, Okonkwo proposed, “When you have naira that you can’t convert to dollars, the solution lies in our authorities recognising the need for a special forex window via the CBN.”
Expressing deep concern about the unjustifiable surges in aviation fuel costs, Okonkwo attributed these spikes to speculative practices. He called on the Nigerian National Petroleum Company Limited (NNPC) to take a moral stance to stabilise the industry.
Recognising the pivotal role of the aviation sector, Okonkwo called for its formal recognition as an essential industry in Nigeria. He cautioned against disruptions to the established regulatory framework, emphasising the importance of stability and consistency. He urged the government and the newly appointed aviation minister to acknowledge the aviation industry’s significance as a cornerstone of the country.
Drawing attention to local operators’ currency predicament, Okonkwo pointed out that earnings in naira must cover substantial dollar-denominated expenses, rendering the industry highly susceptible to currency fluctuations. Thus, he implored the minister to avoid tampering with existing regulations and institutional structures.
“The current minister should refrain from meddling with these regulations. We’ve had a regrettable history where the Federal Ministry of Aviation appointed regulatory personnel. It is both absurd and unacceptable,” Okonkwo emphasised.
He also appealed to the recently appointed Aviation Minister, Festus Keyamo, urging collaboration with other governmental bodies to identify and address obstructive elements within the system. In Okonkwo’s view, these elements compound the existing challenges the aviation industry faces.
