IATA Lauds Nigeria for Resolving $831 Million Trapped Airline Funds
The International Air Transport Association (IATA) has lauded the Nigerian government for its prompt and effective action in clearing the backlog of foreign airlines’ trapped funds, which amounted to over $831 million USD.
This commendation was delivered by Mr. Kamil Al-Awadhi, IATA’s Regional Vice President for Africa and the Middle East, during his opening address at the IATA Wings of Change Focus Africa conference on July 2, 2024.
In his address, Mr. Al-Awadhi emphasised the adverse impacts of trapped funds on foreign airlines in various countries and praised Nigeria for resolving this significant issue.
He noted that this decisive action has restored confidence in Nigeria within the global civil aviation community.
According to Tunde Moshood, Special Assistant on Media and Communications to Nigeria’s Minister for Aviation and Aerospace Development, Festus Keyamo, 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, Mr. Keyamo, highlighted the critical role of African Foreign Affairs Ministers in implementing the Yamoussoukro Declaration (YD) and the Single African Air Transport Market (SAATM).
During a plenary discussion, Mr. Keyamo advocated for the inclusion of Foreign Affairs Ministers in driving the full operationalisation of these initiatives.
He argued that since these ministers are responsible for setting the agenda for the African Union (AU) Summit, they must prioritise the YD and SAATM to ensure political decisions are made to overcome existing challenges.
“To make SAATM work, it is not solely up to African Civil Aviation Ministers. We need to mobilise the African Union to remove domestic restrictions, as political leaders in Africa have the authority to direct their ministers on the way forward,” Mr. Keyamo stated.
His recommendation was well-received by conference participants as a strategic approach to achieving successful implementation and growth of civil aviation across Africa.
The IATA Wings of Change Focus Africa conference, themed “Towards a More Resilient and Sustainable African Aviation,” serves as a premier industry event in Africa.
It gathers aviation stakeholders, regulators, and subject matter experts to discuss key challenges and opportunities in the air transport sector.
The two-day conference, which commenced on July 2, will conclude today – July 3, 2024.
