NewStats: 3,263,506 , 8,180,373 topics. Date: Friday, 06 June 2025 at 10:08 AM 576v11

The International Air Transport Association (IATA) says Nigeria has been removed from the list of countries with unrepatriated airlines’ revenue — otherwise known as blocked or trapped funds.

Kamil Al-Awadhi, IATA’s regional vice-president for Africa, Middle East, and Europe (AME), spoke at a news conference during the association’s recent annual general meeting (AGM).

He said while blocked funds remain a challenge in the region, there have been “significant” improvements in countries like Nigeria, Egypt and Ethiopia.

“Significant improvements have been made in Nigeria, Egypt and Ethiopia over the last year, with Nigeria no longer on the list of blocked funds countries,” the vice-president said.

“However, countries in AME continue to top the blocked funds list. Mozambique is currently withholding the largest amount of blocked funds globally, followed by the XAF Zone (Cameroon, Central African Republic, Chad, Republic of the Congo (Congo-Brazzaville), Equatorial Guinea, Gabon) and Algeria and Lebanon.”

Al-Awadhi said as of April, a total of $1.28 billion is withheld globally, increasing from $1.7 billion in October 2024.

He said 29 AME countries are currently withholding international airlines’ revenues, with a total of $1.1 billion – representing 85 percent — being blocked in Africa and the Middle East.

“… out of that, $919 million is tied up in African countries,” the vice-president added.

According to a breakdown provided by the IATA official, countries with the highest amount of blocked funds in the AME as of April, include Mozambique ($205 million) XAF Zone ($191 million) Algeria ($178 million) Lebanon ($142 million) and Angola ($84 million).

‘GOVERNMENTS SHOULD PRIORITISE AVIATION IN ACCESS TO FX’

Al-Awadhi bemoaned the impact of unrepatriated revenues, and stressed the importance of cash flow to airlines’ business sustainability.

He said when airlines are unable to repatriate their funds, it severely impedes their operations and limits the number of markets they can serve.

“Reduced air connectivity hampers countries’ competitiveness, diminishes investor confidence and labels countries as a high-risk place to do business,” he added.

“Strong connectivity is an economic enabler and generates considerable economic and social benefits.

“We call on governments to prioritise aviation in the access to foreign exchange on the basis that air connectivity is a vital key economic catalyst for the country.”

For years, blocked funds have been a subject of dispute between Nigeria and international carriers.

As of 2023, Nigeria was said to be withholding the highest amount of airlines’ revenue in the world, due to a chronic foreign exchange (FX) shortfall that plagued industries.

In response, aviation companies suspended operations in Nigeria and removed local travel agents from issuing tickets.

As tensions flared, the Central Bank of Nigeria (CBN) under Godwin Emefiele, its erstwhile governor, released $265 million to airlines to halt the crisis in the aviation sector in 2022.

The disbursements continued under the current istration, with an additional $61.64 million as Nigeria renewed its commitment to clear its outstanding FX backlog — estimated at about $7 billion.

In March 2024, the CBN announced that it successfully cleared the FX backlog, with the IATA later confirming that Nigeria had cleared 98 percent of blocked airlines’ funds.

The last reported blocked funds in Nigeria were about $850 million.

https://www.thecable.ng/iata-removes-nigeria-from-list-of-countries-blocking-airlines-funds/

Below was the situation of things when Tinubu took over in 2023. We thank God and Mr. President for how far we have gone. This is part of the money Amaechi said had gone into private pockets.

Keyamo won't let us rest again.

Good one from Jagaban. Let's appreciate the good and critize the bad

Ok

Tinubu will make Nigeria a true giant.
By the time he is done in 2031, Nigerians will all beat their chest.

Dike-Si-Mba 1 of Anambra

CodeTemplarr:
Keyamo won't let us rest again.

Lol this has nothing to do with Keyamo...

I think is the Dollar floating..

CodeTemplarr:
Keyamo won't let us rest again.

But una no go let am rest when bad news come through. So let him enjoy when he's doing well.

This is a nice one. Am thinking this became possible due to the floating of the naira. No more hoarding of dollars??

Ashirioluwa:
Even though I am not a er of the current government, we should give them credit for their good work whenever they do well in any field.

I agree with you. They did well on this. The difference is that those that the government will never see anything wrong in whatever it does even when it is very obvious that the government is not doing well in certain aspects. They still them blindly. True patriots will tell you exactly what you are doing right or wrong no matter whose ox is gored. The ones here think the president is perfect. He is always right.

Another plus for Tinubu. Opposition no go die, well!

inoki247:



Lol this has nothing to do with Keyamo...

I think is the Dollar floating..

They always step in to take credit anytime anything goes right under their ministry or portfolio. Thats how they roll generally.

Thank God for Tinubu. He understands what leadership is not by attending burials, conjuring fake statistics fro thin air but instead taking hard decisions like a doctor knowing that the patient will appreciate you later after a successful operation.

Those who pose for the camera are usually insecure people or people in the entertainment industry.

Just to put things in perspective. Their broda meffy, was playing sense game by refusing to repatriate airline funds because it is in USD. Using that money and constantly borrowing he fake the official exchange rate to be around 400 and black market to be above 600. If he had stopped there, we would have assumed he did not have any other option or did not know what to do to salvage the situation, instead he was selling USD at official rate to his cronies to round trip and then using the kickbacks to build massive estates to the extent he wanted to contest and be president. Even with his voodoo economics, the federal reserves were depleting or used as collateral for loans.

Then comes Tinubu and his economic team, not only have they now repatriated the full funds to IATA, the foreign reserve is growing and the difference between official rate and blackmarket rate is almost never more than 20 naira compared to over 200 naira under Meffy, which has made round tripping to be unpopular.

NewHe:
Another plus for Tinubu. Opposition no go die, well!

I tell u

That's a great move by the government..if we need to criticize we do, and if we need to commend them too we do.. but they need to do more to curb corruption and improve Nigerians standard of living...

ALTERNATEID:


https://www.thecable.ng/iata-removes-nigeria-from-list-of-countries-blocking-airlines-funds/

ALTERNATEID:


https://www.thecable.ng/iata-removes-nigeria-from-list-of-countries-blocking-airlines-funds/

First time wey I no go see bad or negative comments for Nairaland 😂

Like for Tinubu, share for Obidients 😂

Congratulations Nigeria.

God bless Tinubu

Even though I am not a er of the current government, we should give them credit for their good work whenever they do well in any field.

ALTERNATEID:
https://www.thecable.ng/iata-removes-nigeria-from-list-of-countries-blocking-airlines-funds/

Who will remove us from the list of highly indebted countries with huge servicing cost despite promises not to borrow because of devaluation, increased burdens of taxes and subsidy savings?

ManirBK:
Aug 28, 2023
The Federal Government says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday in Abuja.

He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving the business environment for local and foreign investment.

Edun said that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.

He reiterated the President Bola Tinubu-led istration’s desire to bring back the economy from the wood it has found itself over time.

https://www.vanguardngr.com/2023/08/fg-ends-borrowing-finance-minister/amp/

LeeSmart:

At 24 i got married two yrs after graduating from the university and to be honest with you there was never a moment of regret, you know why? Becos family is ive and before graduating I've got a business which is raking in decent numbers💰 for me.
If that young man is well set up, he won't regret nothing at all sister.

Exactly my brother! Our CREATOR that programmed our Body to start craving sex at that Age did not make mistake, but white Man has MisEducated the World to hate the Ways of our CREATOR. The only Regret I have in Life is not marrying early like these wonderful Virgins that married each other.

When it's you too both that DisVirgined each other, you remain forever Special in the eyes of each other as no useless SexDrug enhancement using Ex to compared you innocent Spouse with.

Tinubu will end up as best president Nigeria ever have.

inoki247:



Lol this has nothing to do with Keyamo...

I think is the Dollar floating..

codetemplarr get sense before?

inoki247:



Lol this has nothing to do with Keyamo...

I think is the Dollar floating..

lolzzz na was for Una oo. Dollar floating ko, dollar submerging ni. The same dollar floating you all criticised.

Commend the government when they have done well. You won’t die if you do.

wellmax:
Congratulations Nigeria.
God bless Tinubu

Just before you Celebrate this, See:
https://nairaland.sitesunblocked.org/8442322/heard-latest-invention-african

Tinubu dey try.

Good work

9jatriot:
Thank God for Tinubu. He understands what leadership is not by attending burials, conjuring fake statistics fro thin air but instead taking hard decisions like a doctor knowing that the patient will appreciate you later after a successful operation.

Those who pose for the camera are usually insecure people or people in the entertainment industry.

Just to put things in perspective. Their broda meffy, was playing sense game by refusing to repatriate airline funds because it is in USD. Using that money and constantly borrowing he fake the official exchange rate to be around 400 and black market to be above 600. If he had stopped there, we would have assumed he did not have any other option or did not know what to do to salvage the situation, instead he was selling USD at official rate to his cronies to round trip and then using the kickbacks to build massive estates to the extent he wanted to contest and be president. Even with his voodoo economics, the federal reserves were depleting or used as collateral for loans.

Then comes Tinubu and his economic team, not only have they now repatriated the full funds to IATA, the foreign reserve is growing and the difference between official rate and blackmarket rate is almost never more than 20 naira compared to over 200 naira under Meffy, which has made round tripping to be unpopular.

Ebilokan must be wondering if you are really talking about him.

anonimi:
May 1, 2025

May Day: Hunger, unemployment, insecurity real— Tinubu

According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this istration is committed to creating such an environment for the common good.”

On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.

Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.

https://www.vanguardngr.com/2025/05/may-day-hunger-unemployment-insecurity-real-tinubu/

inoki247:



Lol this has nothing to do with Keyamo...

I think is the Dollar floating..

Its not floating anything. The gbese was paid. That's all.