Nigeria has officially been removed from the International Air Transport Association (IATA)’s list of countries withholding airlines’ revenues. IATA’s Regional Vice President for Africa, Kamil Al-Awadhi, confirmed the development during the association’s recent Annual General Meeting, citing Nigeria’s “significant” improvement in clearing its outstanding obligations.
At its peak in 2023, Nigeria was the world’s top offender, with over $850 million in trapped airline funds due to a chronic FX shortage. The situation strained relations with international carriers and disrupted air connectivity.
However, under President Bola Ahmed Tinubu’s administration, the Central Bank of Nigeria cleared over 98% of the backlog, restoring trust and allowing Nigeria to exit the list.
This achievement underscores the administration’s commitment to fulfilling international obligations and restoring investor confidence.—
