In light of the escalating challenges faced by the aviation sector in accessing foreign exchange, the spokesperson for the Airline Operators of Nigeria (AON), Obiora Okonkwo, has called for the establishment of a dedicated foreign exchange window. The aim is to provide airline operators with better access to dollars, a crucial currency for their operations.
Speaking in an interview with AriseTV, Okonkwo emphasized the mounting difficulty airlines are encountering when converting their naira into dollars. He underscored the urgency of the situation, stressing the need for a special arrangement with the Central Bank of Nigeria (CBN) to facilitate foreign exchange access.
He explained, “You have naira and you can’t convert it to the dollar. So, the solution to this is for our minister to understand that we need a special window with the CBN to access foreign exchange.”
Amid forex scarcity and surging aviation fuel prices, Okonkwo highlighted the substantial implications on ticket costs. He noted that if domestic airlines were to factor in their operational expenses, a ticket for a flight from Lagos to Abuja could reach N250,000.
“If you think tickets are expensive, then you probably don’t appreciate the sacrifices made by local operators. If we have to charge the fares the way the costs are increasing every day, we should be paying not less than N250,000 from Lagos to Abuja,” he stated.
Addressing the newly appointed Aviation Minister, Festus Keyamo, Okonkwo urged him to tackle the escalating cost of aviation fuel. He expressed concern about certain personnel within the Nigerian National Petroleum Company (NNPC) Limited, implying their role in inflating costs for airlines.
Okonkwo urged collaboration among government agencies to identify and mitigate detrimental practices within the system. He asserted, “The new minister should work with other agencies of government to rid the sector of speculators. There is no reason, no matter the international price of crude oil, that the aviation fuel should be delivered to the pump for more than N500.”
While stressing the importance of an efficient regulatory system, Okonkwo cautioned against undue interference in aviation regulations, citing past instances where appointments were made by the ministry. He emphasized that the regulatory framework should remain intact and impartial.
“The current minister should not interfere with the regulations. We had a very terrible past where the regulatory employees were given employment letters from the Federal Ministry of Aviation. That’s absurd and unacceptable. So, let the regulatory system remain,” he asserted, advocating for transparency and professionalism in aviation governance.
