IATA hails Nigeria for clearing $831million foreign airlines’ trapped funds

The International Air Transport Association (IATA) has commended the Nigerian government for clearing the backlog of foreign airlines ‘trapped funds’ of about $831million

The IATA Regional Vice President for Africa and the Middle East Mr. Kamil Al-Awadhi gave the commendation in his opening address at the IATA Wings of Change Focus Africa conference in Johannesburg, South Africa on Tuesday.

Highlighting the negative impacts of trapped funds on foreign airlines in various countries, he applauded Nigeria for an effective resolution of the issue.

He stated that “this decisive action by the Nigerian government has restored confidence in the country within the global civil aviation community”.

READ ALSO:Foreign airlines drop airfares as Nigeria releases 50% of trapped funds

Spokesman to the Minister of Aviation and Aerospace Tunde Moshood in a statement said the commendation received widespread applause from participants, including top government officials, airline representatives, air navigation service providers, international and regional associations, aircraft manufacturers, and other stakeholders in global civil aviation.

In a related development, the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo has emphasized the critical role of African Foreign Affairs Ministers in the implementation of the Yamoussoukro Declaration (YD) and the Single African Air Transport Market (SAATM).

During the plenary discussion, Keyamo advocated the inclusion of Foreign Affairs Ministers in driving the full operationalization of these initiatives and argued that since these ministers are responsible for setting the agenda for the African Union (AU) Summit, it is essential for them to prioritize the YD and SAATM to ensure political decisions are made to overcome existing challenges.

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