by Nurat Uthman
The International Air Transport Association has praised the Nigerian government for its swift action in clearing the backlog of foreign airlines’ trapped funds, amounting to over $831m.
This was disclosed in a statement signed by SA Media and Communications to the Minister of Aviation and Aerospace Development, Festus Keyamo, Tunde Moshood on Wednesday.
It was earlier reported that the International Air Transport Association confirmed that the Central Bank of Nigeria cleared foreign airlines trapped funds worth $831 million from June last year to date.
Adding that the Geneva, Switzerland-based IATA had reduced the global total of trapped funds for international airlines to about $1.8bn.
This praise was expressed by IATA’s Regional Vice President for Africa and the Middle East, Kamil Al-Awadhi, during his opening remarks at the IATA Wings of Change Focus Africa conference on July 2, 2024.
Al-Awadhi commended Nigeria for its effective resolution of this critical issue, noting that the decisive action taken by the Nigerian government has restored confidence in the country within the global civil aviation community.
“Mr Al-Awadhi highlighted the negative impacts of trapped funds on foreign airlines in various countries and applauded Nigeria for its effective resolution of the issue. This decisive action by the Nigerian government has restored confidence in the country within the global civil aviation community.”
His commendation received widespread applause from attendees, including senior government officials, airline representatives, air navigation service providers, international and regional associations, aircraft manufacturers, and other global civil aviation stakeholders.
The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, at the event, stressed the importance of involving African Foreign Affairs Ministers in implementing the Yamoussoukro Declaration and the Single African Air Transport Market.
During a plenary discussion, he advocated for these ministers to drive the full operationalization of these initiatives, emphasizing that their role in setting the African Union Summit agenda is crucial for prioritizing and overcoming challenges related to YD and SAATM.
“To make SAATM work, it is not solely up to African Civil Aviation Ministers. We need to mobilize the African Union to remove domestic restrictions, as political leaders in Africa have the authority to direct their ministers on the way forward,” Keyamo said.
