- Nigeria aims to release all proceeds from ticket sales on foreign airlines.
- This is due to the severe dollar shortages being experienced in the country.
- Additionally, Nigeria's controversial national carrier, Nigeria Air, may begin operations before the swearing-in of a new administration on May 29, 2023.
According to Thursday's statement from Nigerian Aviation Minister Hadi Sirika, the nation is working to release funds from foreign airline ticket sales that have been delayed due to a lack of dollars in the nation.
Due to severe dollar shortages, many Nigerians and businesses are forced to exchange money on the black market, where the value of the naira has been steadily declining. Some foreign airlines that sold tickets in Nigerian naira have found it challenging to get their money out of the country due to the lack of dollars
The highest amount owed by any country is $743 million, according to a spokesperson for the international airline industry association IATA, which said Nigeria was withholding last week.