The controversy surrounding the insistence by some international airlines on selling air tickets exclusively in US Dollars continues to escalate, drawing sharp condemnation from both passengers and key industry stakeholders in Nigeria.
The practice, which is viewed as an affront to Nigeria’s sovereignty and a direct pressure on the already volatile Naira, has led to widespread protests, particularly as the festive travel season approaches.
Stakeholder Outrage
The National Association of Nigerian Travel Agencies (NANTA) has been at the forefront of the opposition. The association’s president, Yinka Folami, described the dollar-only sales as an “economic crime” and an anti-competitive practice that locks out up to 70% of local travel agencies whose operating wallets are denominated in Naira.
Passengers interviewed at major international airports lamented that the policy has made international travel increasingly unaffordable.
“For me, I was more than surprised when my agent told me that some airlines have insisted on taking dollars only from outbound passengers. This is Nigeria, a sovereign state,” said one Morocco-bound traveler.
Foreign airlines largely justify the dollar sales by citing the historical issue of “trapped funds,” where the Naira proceeds from ticket sales could not be repatriated due to foreign exchange scarcity.
However, despite the Federal Government’s reported commitment to clearing the backlog of these funds, a few airlines have maintained the dollar-only stance, prompting the government to step in.
Latest Development: NANTA has confirmed that the Federal Government is poised to end the ‘dollarisation’ of ticket sales. The government’s intervention aims to enforce the use of the Naira as the legal tender for transactions within the country and stabilize the foreign exchange market.
The resolution of this issue is critical for protecting the rights of Nigerian consumers and safeguarding the nation’s economic stability from policies that undermine its local currency.
