Market News

 by Yusuf Babalola

The National Association of Nigerian Travel Agencies (NANTA) has expressed strong displeasure over the growing practice by foreign airlines to sell air tickets exclusively in United States dollars, describing the trend as disrespectful to Nigeria’s legal tender and harmful to the local travel industry.

Speaking with journalists, NANTA President, Yinka Folami, condemned the exclusion of the naira from international travel transactions, insisting that it violates the spirit of Nigeria’s monetary regulations and places undue burden on local travellers.

Folami noted that while Bilateral Air Service Agreements (BASA) provide frameworks for international airline operations, they were never intended to justify the outright rejection of the naira in ticket sales.

Advertisement

According to him, the insistence on dollar-denominated transactions has created significant barriers for Nigerian travellers, weakened the domestic financial system, and heightened tensions between global carriers and local stakeholders.

“It is disrespectful when you exclude the naira from transactions. What we are complaining about are those airlines that insist on selling tickets only in U.S. dollars. It is wrong,” he said.

He further lamented that the situation is compounded by tightening visa restrictions, rising airline debit memos, and declining cross-border trade, all of which are threatening the survival of travel agencies and allied businesses.

Folami also raised concerns over what he described as anti-competitive practices, misinterpretation of tax policies, and their adverse impact on NANTA members, warning that these challenges could erode confidence in Nigeria’s travel ecosystem.

Despite these concerns, the NANTA president stressed that the association is committed to restoring professionalism and improving the global perception of Nigeria’s travel industry.

“We are not fraudsters. We are stepping forward as unofficial diplomats of Nigeria. We will use our platform to correct negative narratives and restore confidence,” he said.

He disclosed that NANTA is strengthening internal structures by fully dissociating from illegal practices and elevating professional standards through the establishment of a registered training institute for travel professionals.

According to him, the move is aimed at promoting discipline, enhancing capacity, and ensuring that practitioners in the sector operate with global best practices.

“The best way to protect our members and the industry is to raise standards and enforce professionalism.

While we play our part, we call on the government to deploy effective regulations to protect our market, travellers, and small businesses,” Folami added.