IATA resumes talks with Nigeria over airlines’ trapped funds

The International Air Transport Association has resumed discussions with the Nigerian government regarding the repatriation of trapped funds belonging to foreign airlines, amounting to about $783 million as of August this year. Kamil Al Awadhi, IATA’s Regional Vice-President for Africa and Middle East, recently engaged in talks with the Nigerian government and shared insights on the progress being made in addressing this critical issue. Al Awadhi commended the positive change in the Nigerian government's approach, highlighting a serious commitment to addressing various aviation sector challenges, including the blocked funds issue. During his recent visit to Nigeria, Al Awadhi met with the Honourable Minister, Mr. Festus Keamo, who demonstrated a good understanding of the situation and expressed collaborative efforts to find a solution within the next few weeks. The trapped funds not only affect foreign airlines operating in Nigeria but also impact local Nigerian carriers facing challenges related to foreign exchange constraints. Al Awadhi emphasized the significance of resolving this issue promptly to ensure smooth operations and financial stability for all airlines involved. In discussions with both foreign and local airlines, Al Awadhi noted a sense of optimism following promising conversations with the Honorable Minister of Aviation. The reassurance from the government and ongoing dialogues have instilled hope for a positive resolution in the near future. Beyond the issue of trapped funds, Al Awadhi also addressed the importance of upholding safety and operational standards in the Nigerian aviation sector. Collaborative efforts between IATA and Nigerian Civil Aviation Authority are underway to enhance safety measures and address any concerns raised during recent audits. Furthermore, efforts to improve airport infrastructure and operational efficiency were highlighted during Al Awadhi's visit. Productive meetings with key stakeholders, including the Managing Director of Federal Airports Authority of Nigeria, Kabir Youssef, underscored a commitment to resolving challenges faced by airlines operating at Nigerian airports. Al Awadhi acknowledged the progress made during his recent engagements in Nigeria, emphasizing that the collaborative approach and commitment from all parties involved have made this past week the most productive in addressing aviation sector challenges. As discussions continue and efforts intensify to unblock the trapped funds and enhance operational standards, stakeholders remain hopeful for positive outcomes that will benefit the aviation industry in Nigeria and foster a conducive environment for both local and foreign carriers. In conclusion, the ongoing talks between IATA and the Nigerian government signify a step in the right direction towards resolving the longstanding issue of trapped funds and improving the overall aviation landscape in Nigeria.