Nigeria remains topmost debtor to foreign airlines— IATA… 

Nigeria has again been confirmed as the topmost indebted country to foreign airlines globally in far away Geneva, Switzerland.

The Regional Vice President for Africa and the Middle East (AME) for IATA, Kamil Al-Awadhi, revealed this during an interactive session with journalists across Africa at the two days Global Media Day held in Geneva Thursday.

Speaking to journalist from African countries of Nigeria, Ghana, Zambia, South Africa on the second day of the event which focused on Africa, the IATA Vice President who described the issue of the blocked funds as a challenge, listed the top countries with blocked funds with Nigeria topping the ladder.

According to the IATA’s latest list, Nigeria’s indebtedness as at October 2023 was a whopping $792 million, with Egypt trailing behind with $348 million.

Next in the line of the highest debtor countries was Algeria with $199 million, African and Indian region with $183 million while Ethiopia ranked number five with the debt of $138 million.

Kamil who lamented how the issue of the blocked funds have incapacitated many of the foreign airlines operating into Nigeria, cited an African airline whose blocked funds trapped in Nigeria was put at $34 million.

While challenging the Nigerian government to take the issue of the blocked funds more Serious, Kamil who said though he has not been able to meet with the present Central Bank of Nigeria governor, revealed how the inability of the foreign airlines to repatriate the blocked funds has continued to hinder their operational expansion.

When asked to react to the plan by the Nigerian government to review its over 100 Bilateral Air Service Agreements (BASA), Kamil though described the issue as very complicated, but added that IATA as an Association does not get involved in such matters as they fall under the jurisdiction of the state.