Finance Politics News

Reps panel urges CBN to make forex available to airlines

The Chairman, House of Representatives Committee on Aviation, Nnolim Nnaji, has urged the Central Bank of Nigeria to make foreign exchange accessible to airlines.

Nnaji, while addressing aviation correspondents on the sidelines of a conference in Lagos, said making forex available to airlines was essential as most of the aircraft spares were bought overseas.

He said “We have succeeded in getting zero duties for the airlines for the purchase of spare parts. Another issue that they are battling with is the issue of forex.

“Since they buy most of their stuff abroad, it is important that they have access to forex. The planes need to be in the sky all the time because the more you move, the more money you make so that you can pay your bills.

“We would want the CBN to create a window for forex because it will help reduce the airfare. We are committed to the safety of the industry. Our duty in the House of Representatives is to support the industry.”

Speaking on the relief provided by the Federal Government for airlines, Nnaji said the government’s effort was not enough compared to what the governments of other countries did for their airlines.

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