The International Air Transport Association (IATA) says foreign airlines’ revenue blocked from repatriation by the Nigerian government has increased to $743 million from $662m in January 2023.
The association disclosed this on Tuesday in a letter seen by TheCable.
The letter was addressed to Hadi Sirika, minister of aviation, and signed by Samson Fatokun, the association’s area manager West and Central Africa.
The air transport group and the global airline community wrote to the federal government, seeking a special invention for the resolution of airlines’ blocked funds in the country.
“For over a year, Nigeria has been the country with the highest amount of airline-blocked funds in the world. Please find attached the comparative table of airlines’ blocked funds by country,” the letter reads.
“Moreover, as of January 2023, airlines’ blocked funds in Nigeria have increased to $743,721,092 from $662m in January 2023 and $549m in December 2022.”
