Breaking News

Travel Sales Slump 40% as Middle East Crisis, Dollar Ticketing Hit Nigerian Agencies — NANTA

Middle East tensions slash travel demand as NANTA warns of declining sales and rising refunds. Dollar-only ticketing worsens pressure on Nigerian agencies.

Published

on

Nigeria’s travel industry is grappling with a sharp downturn, as the National Association of Nigerian Travel Agencies (NANTA) reports a 30–40 per cent drop in ticket sales linked to the ongoing Middle East crisis.

Beyond declining demand, the association says its members are also facing mounting losses from ticket refunds, while controversial dollar-only ticket sales by some foreign airlines continue to strain the market.

Speaking ahead of the association’s 50th Annual General Meeting in Ibadan, NANTA President Yinka Folami argued that the exclusion of the naira from ticket transactions undermines Nigeria’s economy.

“It is not just the American airlines alone that are selling in dollars in Nigeria… what happens to our Naira?… I think it’s a disrespect to Naira to set up shop in Nigeria and say that currency will be completely excluded from that transaction,” he said.

While acknowledging that BASA and Open Skies Agreements may allow foreign currency transactions, Folami insisted airlines should still provide customers with the option to pay in naira.

Advertisement

“I am not saying that they should not sell in dollars, but give us the option to trade in naira, too… Give us that respect and permit us to at least trade in our currency with you.”

He warned that the current practice distorts the market and weakens ongoing efforts to stabilise the national currency.

NANTA also revealed it is collaborating with the Federal Competition and Consumer Protection Commission to push for enforcement actions against airlines accused of unfair practices.

Adding to the industry’s challenges, trustee Daisi Olotu highlighted the burden of taxation, noting that agencies are taxed on gross ticket sales rather than commissions.

According to him, taxes and associated charges can make up as much as 50 per cent of international ticket costs, further squeezing both operators and travellers.

Advertisement

The combined pressures of geopolitical instability, foreign exchange practices and domestic taxation, stakeholders say, are reshaping Nigeria’s travel sector.

Africans Angle News

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Exit mobile version