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Foreign Airlines Reintroduce Low Air Fares For Nigerians Following FG’s Intervention

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1 year ago

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The Nigerian Civil Aviation Authority (NCAA) has confirmed that foreign airlines have reopened their low-inventory tickets for Nigerians to access cheaper flights.

Michael Achimugu, the authority’s director of public affairs and consumer protection, disclosed this in a post on X (formerly known as Twitter) on Thursday.

He states that the development followed recent meetings between the NCAA and aviation stakeholders, including the international airlines.

In August 2022, (BA) had closed its inventory in Nigeria in the global distribution system (GDS), over the foreign airlines’ trapped funds controversy.

The move had prevented local travel companies from issuing tickets at relatively lower rates to travellers.

On January 30, the Central Bank of Nigeria (CBN) said it had concluded the payment of all verified foreign exchange (FX) claims by airlines, releasing an additional $64.44 million to the concerned foreign aviation firms.

Providing updates on recent engagement with stakeholders, Achimugu said the inventory reopening would allow Nigerians to access lower ticket prices.

“I am proud to announce that, after the meetings with international airlines on the 12th and 13th of February, all of the airlines, bar one, have reopened their low-inventory tickets for Nigerians to access lower ticket prices for international flights,” he said.

“Recall that most of these airlines had closed the low tickets to Nigerians for about a year, subjecting our citizens to only the highest possible airfares. But the swift intervention of Capt. Chris Najomo, DGCA, has eased the situation. More wins to come.”

On February 12, Chris Najomo, the acting director-general of the NCAA, expressed concern over the high cost of airfares, especially on international routes.

Najomo said the authority would set up a committee to review the situation and bring down the airfares.

“It has come to the notice of this authority about the increase and high cost of airfares, especially on international travels,” the director-general said.

“And NCAA in a view of trying to make sure that these airfares are brought down, has decided to set up a high-powered committee which will look at all the variances and how we can bring these airfares down.

“We’ve met with the airlines and other stakeholders and other agencies we will make sure that this is done.”

Some foreign aviation firms operating in Nigeria are Lufthansa German Airlines, KLM, Egypt Air, Ethiopian Airlines, British Airways, Royal Air Maroc, RwandAir, and Turkish Airlines.

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BIG STORY

BREAKING: Nigeria’s Inflation Rate Drops To 23.18%

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3 hours ago

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March 17, 2025

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The National Bureau of Statistics (NBS) has reported a decrease in Nigeria’s inflation rate, which fell to 23.18% in February from 24.48% in January.

The announcement was made in the February 2025 Consumer Price Index (CPI) released by the NBS on Monday.

According to the bureau, the headline inflation rate in February increased slightly by “1.30% points when compared to the January 2025 headline inflation rate.”

The NBS stated:

“In February 2025, the Headline inflation rate eased to 23.18% relative to the January 2025 headline inflation rate of 24.48%.”

“Looking at the movement, the February 2025 Headline inflation rate showed a decrease of 1.30% compared to the January 2025 Headline inflation rate.”

On a year-on-year basis, the headline inflation rate was 8.52% lower than the 31.70% recorded in February 2024.

The NBS further noted:

“This shows that the Headline inflation rate (year-on-year basis) decreased in February 2025 compared to the same month in the preceding year (i.e., February 2024), though with a different base year, November 2009 = 100.”

Additionally, the month-on-month inflation rate for February 2025 was recorded at 2.04%.

 

More to come…

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BIG STORY

Rivers Assembly Accuses Fubara, Deputy Of Misconduct, Issues Notice

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7 hours ago

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March 17, 2025

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The Rivers State House of Assembly has issued a notice accusing Governor Siminalayi Fubara and his deputy, Ngozi Odu, of alleged misconduct.

A total of twenty-six members of the assembly made these allegations against Fubara in a notice submitted to Speaker Martin Amaewhule on Monday.

According to the lawmakers, their actions are based on “Section 188 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and other existing laws.”

They accused Fubara of various offenses, including unconstitutional and reckless spending of public funds, hindering the Assembly’s activities, and appointing individuals to government positions without undergoing the required screening and confirmation.

Additional allegations include withholding salaries, allowances, and funds designated for the Rivers State House of Assembly, as well as blocking the salary of Clerk Emeka Amadi.

The lawmakers also accused Deputy Governor Ngozi Odu of “conniving and supporting the illegal appointment of persons to government positions without the required screening and confirmation.”

After receiving the notice, Amaewhule forwarded it to Fubara, stating that the allegations had been brought forward by “not less than one-third (1/3) of the membership of the Rivers State House of Assembly.”

He then urged the governor to respond to the allegations, citing Section 188(3) of the Constitution, which states, “Within 14 days of the presentation of the notice to the Speaker of the House of Assembly (whether or not any statement made by the holder of the office in reply to the allegation contained in the notice), the House of Assembly shall resolve by motion, without any debate, whether or not the allegation shall be investigated.”

Amaewhule further advised the governor to take appropriate action and extended his “esteemed regards.”

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BIG STORY

BREAKING: Lagos Court Orders Oba Otudeko To Appear For ‘N30bn Fraud’ Trial

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9 hours ago

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March 17, 2025

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The Federal High Court in Lagos has instructed Oba Otudeko to appear before the court and enter a plea in response to the charges filed by the Economic and Financial Crimes Commission (EFCC).

The directive was issued on Monday by Justice Chukwujekwu Aneke.

The EFCC had previously filed a 13-count charge against Otudeko and three others over an alleged N30 billion loan fraud.

During the proceedings, the judge ruled that Otudeko must take his plea before the court could address an application contesting its jurisdiction in the matter.

The case has been adjourned to May 8.

 

More to come…

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