IATA lauds Nigeria for clearing $831 million airline funds backlog
The International Air Transport Association (IATA) has praised the Nigerian government for swiftly clearing a backlog of over $831 million in trapped funds belonging to foreign airlines.
This commendation was given by Kamil Al-Awadhi, IATA’s Regional Vice President for Africa and the Middle East, during the opening address of the IATA Wings of Change Focus Africa conference on July 2, 2024, in Johannesburg, South Africa.
Al-Awadhi highlighted the adverse effects of trapped funds on foreign airlines in various countries and singled out Nigeria for its effective resolution of the issue – a move which has reportedly restored confidence in Nigeria within the global aviation community.
His remarks were met with applause from attendees, which included high-ranking government officials, airline representatives, air navigation service providers, and other stakeholders in the aviation sector.
In a related discussion, Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, advocated for the involvement of African Foreign Affairs Ministers in the full implementation of the Yamoussoukro Declaration (YD) and the Single African Air Transport Market (SAATM).
Speaking during a plenary session, Keyamo emphasized the importance of sensitizing Foreign Affairs Ministers, who play a crucial role in setting the agenda for African Union (AU) summits, about the need to prioritize these aviation initiatives.
Keyamo argued that the operationalization of YD and SAATM requires political backing, which can be achieved by mobilizing the AU to address domestic restrictions and direct their civil aviation ministers on the necessary steps forward.
His recommendation was well received by participants as a viable strategy to enhance connectivity and foster growth in Africa’s civil aviation sector.
The IATA Wings of Change Focus Africa conference, themed “Towards a More Resilient and Sustainable African Aviation,” serves as a key industry event in Africa.
It brings together aviation leaders, regulators, and experts to discuss the challenges and opportunities facing the continent’s air transport sector.
The conference which began on July 2, came to a close on July 3, 2024.
