The APC Grassroots Governance Group (APC G3) on Tuesday commended President Bola Tinubu for clearing trapped airlines’ revenue.
The International Air Transport Association (IATA) recently said Nigeria has been removed from the list of countries with unrepatriated airlines’ revenue – otherwise known as blocked or trapped funds.
Kamil Al-Awadhi, IATA’s regional vice-president for Africa, Middle East, and Europe (AME), disclosed this at a news conference during the association’s recent annual general meeting (AGM).
As of 2023, Nigeria was said to be withholding the highest amount of airlines’ revenue in the world, due to a chronic foreign exchange (FX) shortfall that plagued industries.
APC G3 Acting Board of Trustees Chairman, Engr. Micheal Ayuba Auta and National Coordinator, Amechi Chuks. Oyema in a press release said clearing the trapped funds has ensured growth in the aviation sector.
According to him “The situation in the aviation sector was really embarrassing as Nigerians were subjected to inhumane treatment. Today, the situation is different as airlines are now struggling to access the Nigerian market.
“This noble achievement by the Tinubu administration reflects determination to address the economic situation.
“President Tinubu, the CBN Governor, Minister of Aviation and members of the Economic Team must be commended for this achievement.
“Nigerians must not give up hope, the present administration is determined to change the tide.
“Nigerians are gradually beginning to see the advantage of floating the naira and removal of subsidy as more Forex is becoming available,” APC G3 added.
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