NANTA Reveals Factors Behind Nigeria’s Lost Travel Market to Neighbouring Countries

Date:

The National Association of Nigeria Travel Agencies (NANTA) has shed light on how Nigeria’s travel market slipped away to neighboring countries, attributing it primarily to high airfares that prompted Nigerians to seek cheaper options elsewhere.

Thank you for reading this post, don't forget to subscribe!

Mrs. Susan Akporiaye, the President of NANTA, disclosed that while this trend generated revenue for travel operators, it represented a loss for Nigeria as taxes that should have accrued to the country were diverted elsewhere.

Speaking to reporters in Lagos yesterday, Akporiaye highlighted several factors contributing to the reduction in airfares within Nigeria, including the clearing of international airlines’ trapped funds, the steady appreciation of the Naira against the dollar, and the release of lower fare inventories by foreign airlines.

She explained, “A significant portion of ticket sales originated from outside Nigeria. These sales were not credited to the Nigerian market. If we examine the Ghanaian market or any West African country market, we observe significant growth, while the Nigerian market experiences a decline. This is due to airlines closing off lower fare inventories in Nigeria while keeping them open in other markets.”

Akporiaye further emphasized that her tenure as NANTA President over the past four years had been challenging, citing issues such as foreign airlines’ trapped funds, restrictions on lower inventories for Nigerian travel agencies, and volatile foreign exchange rates, which deterred some passengers from using Nigerian airports.

As NANTA prepares for presidential elections on April 26, Akporiaye urged for peace and unity within the organization, emphasizing her commitment to leaving behind a legacy of harmony rather than discord. She expressed confidence that NANTA would emerge stronger after the elections.


Discover more from Naija247news

Subscribe to get the latest posts to your email.

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:

Subscribe

Popular

More like this
Related

I have become an Evangelist and a witness for Christ’ – Doyin Okupe proclaims after surviving Cancer twice

May 21,2024. The former campaign director for the Labour Party...

Africa, America recording highest gonorrhoea, syphilis cases- WHO

May 21, 2024. Azonuchechi Chukwu. The World Health Organisation on Tuesday...

Kano assembly to amend law used by former Governor Ganduje to create new emirates

May 21,2024. Kano state assembly has initiated a review of...

Why We May Not Accept N100,000 As Minimum Wage – Organized Labour Explains

May 21,2024. Organised Labour has explained why the Federal Government...

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading