FG to End Dollar Ticket Sales by Foreign Airlines — NANTA President Warns Against “Crime Against the Economy”

The Federal Government is preparing to end the sale of air tickets in U.S. dollars by foreign airlines operating in Nigeria a long-awaited policy shift aimed at strengthening the naira and restoring market confidence, according to the National Association of Nigerian Travel Agencies (NANTA).

President of NANTA, Mr. Yinka Folami, who disclosed this in Lagos, described the dollarization of air ticketing as “a crime against the economy,” stressing that such practices weaken Nigeria’s financial sovereignty and punish consumers.

“Nigeria is a sovereign economy with its own legal tender. Selling tickets in a foreign currency within our borders undermines the naira and erodes public trust in national institutions,” Folami said.

“The Federal Government is committed to enforcing this policy, and we in the travel sector are fully aligned with the transition. Ticket sales must be in naira, not dollars,” he added.

Aviation Ministry Backs Enforcement Drive

Confirming the government’s position, a senior official at the Federal Ministry of Aviation and Aerospace Development, who requested anonymity because discussions are ongoing, said the policy forms part of broader reforms to localize transactions in critical sectors.

“This government will no longer tolerate the abuse of the Nigerian market through dollar invoicing,” the official said. “A circular is being finalized between the Ministry, the Central Bank of Nigeria (CBN), and the Nigerian Civil Aviation Authority (NCAA) to ensure full compliance by all foreign carriers.”

The official added that enforcement will come with a transition framework, giving airlines a limited period to adjust their billing and booking systems to reflect naira pricing, while avoiding passenger disruption.

Economic Analysts: A Step Toward Forex Stability

Economic analysts have applauded the move, describing it as a strategic step toward reducing pressure on foreign reserves and stabilizing the exchange rate.

Dr. Abiola Omotayo, an aviation economist at Lagos Business School, told Naija247news that ending dollar-based ticketing could save Nigeria hundreds of millions of dollars annually in parallel-market leakages.

“Each dollar sale by airlines drains liquidity from the formal forex system and forces the CBN to make up the shortfall,” Omotayo explained. “Enforcing naira transactions will not only boost the local currency but also improve CBN’s control over forex circulation.”

However, she cautioned that the government must ensure a predictable policy environment to prevent retaliatory actions or capacity cuts by major international airlines, especially those that have previously suspended routes due to trapped funds.

Industry Background: A History of Tension

The issue of foreign airlines selling tickets in dollars has long been contentious. In 2022 and 2023, several carriers, including Emirates and British Airways, temporarily reduced or suspended operations after struggling to repatriate earnings due to forex shortages.

At the height of the crisis, trapped funds reportedly exceeded $700 million, forcing the CBN to intervene. Since then, Nigeria’s aviation industry has faced mounting calls to localize transactions and safeguard the naira.

With the new policy, travel agencies under NANTA say they expect lower ticket volatility, fairer pricing for Nigerian travelers, and a revival of consumer confidence.

Looking Ahead

The Federal Government’s enforcement of naira-based ticketing is expected to be rolled out in phases, with full compliance targeted by mid-2026.

If properly implemented, experts say the reform could mark a turning point for Nigeria’s aviation and forex ecosystem restoring economic discipline, protecting consumers, and reinforcing the government’s commitment to currency sovereignty.

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Reporting by Agnes Ekebuike Editor, Naija247news in Lagos, Nigeria.