Air Peace Lagos-London Flights Will Ease Pressure On Naira

For now, we have a choice because everybody wants to come in and invest in Nigeria because of the new approach of governance to investors.” On why airlines that operated the London route previously did not survive, the minister said, “The reason why previous airlines on the London Route did not survive is not because of the politics of the Bilateral Air Services Agreement (BASA).

He said: “All the airlines that come into Nigeria, what they experience is massive repatriation of funds that puts pressure on the Naira because they have to seek for dollars, both the commercial banks and CBN.

The minister said that the Bola Tinubu-led government is going to ensure that they support local operators in accessing aircraft lease arrangements like what Air Peace is doing.

This is because he is doing this at great expense, even at marginal profit or loss to challenge and it is going to get better.” Keyamo pointed out that Nigeria had been on the blacklist when it comes to dry lease arrangements because of the previous experiences of the lessors.

He added that the aviation company is a local company and that the government does not have to repatriate the sale of tickets to the Central Bank of Nigeria (CBN)..

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