In a decisive step aimed at strengthening the naira and restoring fairness in Nigeria’s aviation industry, the Federal Government has announced plans to end ticket sales in dollars by foreign airlines, a practice long criticized for undermining the nation’s economic stability and violating local financial regulations.
The President of the National Association of Nigerian Travel Agencies (NANTA), Yinka Folami, disclosed the development during a cultural and tourism event in Lagos over the weekend.
According to him, the government’s decision marks a major milestone in addressing one of the most persistent challenges affecting Nigerian travelers, aviation agencies, and the foreign exchange market.
Government Targets an End to Ticket Sales in Dollars by Foreign Airlines
Folami described the continued ticket sales in dollars by foreign airlines as an “economic crime” that unfairly disadvantages local travelers while putting undue pressure on the naira.
He explained that foreign carriers had for years exploited currency volatility by pegging their fares in U.S. dollars, forcing Nigerians to pay more due to exchange rate fluctuations.
“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,” Folami said.
“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.”
The NANTA boss noted that while the decision was overdue, it demonstrates the Tinubu administration’s renewed commitment to economic sovereignty and market fairness.
He emphasized that the move would help stabilize the aviation sector and restore public confidence in government regulation.
Strengthening the Naira and Aviation Sector Competitiveness
According to Folami, the end of ticket sales in dollars by foreign airlines will relieve pressure on the country’s foreign exchange reserves and bring transparency to airfare pricing.
He said the current practice has made Nigeria one of the costliest countries for air travel in Africa, despite being a major regional hub.
He added that the continuous use of dollars in local transactions contradicts the Central Bank of Nigeria’s (CBN) monetary policy and hampers the country’s effort to defend the naira.
“There is absolutely no reason to continue selling tickets in dollars in Nigeria. It is an outdated system that does not reflect the realities of our economy,” Folami stressed.
“With the government’s current stance, I am confident this practice will soon fade out of Nigeria’s aviation sector.”
Call for Support of Local Airlines
Folami further urged Nigerians to rally behind indigenous carriers, particularly Air Peace, which has taken bold steps to compete on the global stage by launching direct flights from Lagos and Abuja to London.
He described the airline’s expansion as a patriotic act and a symbol of Nigeria’s capacity to operate profitably within the international aviation market.
“It is our patriotic responsibility to support Air Peace and pray for its success and sustainability,” he said.
“When we strengthen local airlines, we reduce dependency on foreign carriers and retain revenue within the country.”
The NANTA president also encouraged private investors and policymakers to provide consistent support to domestic airlines, ensuring they have the financial and operational capacity to thrive amidst global competition.
Mixed Industry Reactions and Economic Implications
While the government’s decision has received widespread support from aviation stakeholders and economic experts, some foreign airlines have expressed concerns about revenue repatriation challenges.
Analysts believe the policy will reduce excessive foreign exchange demand and curb inflationary pressures driven by aviation costs.
Economic experts have also linked the move to the broader effort by President Tinubu’s administration to stabilize the naira and promote local value retention across industries.
By ending ticket sales in dollars by foreign airlines, the government hopes to strengthen its monetary policy framework and align Nigeria’s aviation system with international best practices.
Moreover, travel agencies under NANTA see this as a victory for fairness and transparency.
For years, agencies have lamented being sidelined by foreign airlines that insist on dollar-based ticketing, a policy that drives up costs and reduces local participation in the aviation market.
Toward a Fair and Sustainable Aviation Future
As the policy moves closer to implementation, the federal government is reportedly engaging stakeholders across the aviation and financial sectors to ensure a seamless transition.
The aim is to create an enabling environment for both local and foreign airlines to operate competitively, while prioritizing Nigeria’s economic stability.
Industry observers say the success of this policy will depend on consistent enforcement and collaboration between the CBN, the Ministry of Aviation, and the Nigerian Civil Aviation Authority (NCAA).
If fully implemented, the end of ticket sales in dollars by foreign airlines will represent a significant win for Nigeria’s economic sovereignty, consumer protection, and the growth of indigenous aviation businesses.
“This is not just a policy shift—it’s a statement that Nigeria is ready to take charge of its economic destiny,” Folami concluded.
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