President Bola Tinubu has directed the Central Bank of Nigeria, CBN, to ensure quarterly reconciliatory meetings with foreign airlines to address the backlog of their fund.
This Minister of Aviation and Aerospace Development, Festus Keyamo made this disclosure at the ongoing African Aviation Summit in Abuja.
He noted that the development was one of the reasons President Tinubu travelled to the United Arab Emirates, UAE, to address.
Recall, the International Air Transport Association, IATA, has criticized Nigeria over multiple charges imposed on airlines operating in the country and recently queried the federal government for not being responsive to the foreign airlines’ inability to repatriate their funds in excess of $600 million.
The Minister also unveiled three roadmap projects which include Aerotropolis, Aircraft Leasing Company, ALC, and Maintenance Repair and Overhaul, MRO, facility.
He also unveiled five focus areas to realise the country’s vision of becoming an Aviation Hub in Nigeria.
The key areas listed include infrastructure upgrade, ALC, MRO facility and forex availability.
