Three weeks ago, Nairametrics reported that airfares in Nigeria have risen by about 100%. This development was confirmed by some airline operators, who also offered suggestions on how passengers could minimise air travel cost.
In an interview, the Chairman of West Link Airlines, Captain Ibrahim Mshelia, explained that it is important to speed up general aviation development to create options for the flying public.
According to him, the speedup would take away some of the inherent challenges in the industry that caused the fares to soar, things that affect the airlines at the core and militate against their survival.
He said, “More airlines are coming onstream, this will mitigate this problem. In defence of the airlines, there are many factors that affect ticket pricing in Nigeria. Aviation does not enjoy oil money anymore.
Airlines are faced with inconsistent fuel pricing and they also pay import duty for spare parts even when the government has granted waivers, etc. As I speak, I still pay duty for all parts I import to service our aircraft. I don’t even know if there is anything we produce locally that we use to operate our aircraft these days besides catering.”
Chairman of United Nigerian Airlines, Chief Obiora Okonkwo attributed the prices hike to the inconsistent jet fuel price or unavailable jet fuel and lack of forex to enable the system operate like clockwork.
He said, “Honestly speaking if you look at the cost of operations in this industry, I’ll say that there may not be so much amount paid that we can regard as too much. You will not like it.”
What you should know
Nairametrics had reported that the cost of airline tickets in Nigeria increased by almost 100% in the last one month.
Recent checks by Nairametrics confirms that ticket fares to cities like Port Harcourt, Ilorin, and northern states like Kebbi, Borno, Adamawa and Kano have increased by as much as 100% in the last one month.
Business and student travellers who spoke to Nairametrics about their experience expressed shock and resentment about the rising cost of airfare in Nigeria especially as travelling by road continues to be risky due to the activities of bandits and kidnappers.
FG’s latest COVID-19 restrictions do not affect our operations – Airlines
Airline operators have disclosed that the Federal Government’s latest COVID-19 announcement does not affect their operations.
One of them, Air Peace Limited, informed its patrons via its Twitter handle that its operations are still intact despite the lockdown restrictions.
It tweeted, “Be informed that the latest COVID-19 announcement by the Federal Government does not affect our flight operations for now, as we’re still servicing our regular routes.
We’ll keep you posted via our social media platforms as new updates on this emerge.”
Badagry Deep Seaport to commence operations earlier than planned
Lagos State Government is ready to give the necessary support for the timely delivery of the Badagry Deep Seaport project.
The Badagry Deep Seaport is expected to commence operations earlier than planned, as the Lagos State Government is ready to give the necessary support for the timely delivery of the project.
This was disclosed by the Commissioner for Commerce, Industry and Cooperatives, Lola Akande, in a statement issued on Monday.
The Commissioner issued the statement after a stakeholders’ meeting organised by the State Government with the members of the host communities as part of the inclusive policy of the present administration as well as to seek their buy-in on the project.
The Honourable Commissioner for Commerce, Industry and Cooperatives, Dr. (Mrs.) Lola Akande has disclosed that the proposed Badagry Deep Seaport may soon commence operations earlier than planned.@jidesanwoolu @drobafemihamzat @lagosmcic @gbenga_omo @gboyegaakosile @HMOKUNOLA1
— The Lagos State Govt (@followlasg) May 9, 2021
She said, “The State Government is ready to give the necessary support for timely delivery of the project and the cooperation of all the parties involved is germane and critical to its success.
I advise the community leaders and relevant stakeholders in the deep-sea port project to give peace a chance, as there is need to embrace unity and speak with one voice so that their demands can be quickly met and adequately catered for.”
Dr Akande also implored the 12 host communities to appoint a six-man committee as their representative at every meeting with the State government, adding that they should bring up a Memorandum of Understanding (MOU) articulating their requests, complaints and suggestions.
The members of the communities present at the meeting expressed their joy that the project will boost the region’s economy and equally enhance their lifestyle.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- FMDQ approves quotation of MTN’s Commercial Paper worth N73.5 billion.
- MTN Nigeria issues a 7-Year Series 1 bond worth N110 billion.
- Caverton Offshore Support Group reports profit after tax of N520 million in Q1 2021.
- Okomu Oil proposes dividend worth N6.7 billion for shareholders.
- Ardova Plc confirms appointment of Oladeinde Nelson-Cole as secretary.