In an effort to address the foreign exchange scarcity faced by domestic airline operators, the federal government has called on the Central Bank of Nigeria (CBN) to provide forex at a single-digit interest rate ranging from 1.5% to 2%.
This request was disclosed by the Minister of Aviation and Aerospace Development, Festus Keyamo, during a courtesy visit by the Airline Operators of Nigeria.
Amid ongoing forex scarcity in Nigeria, the Minister emphasized the importance of securing forex at a lower interest rate to support the growth of domestic airlines. “The ministry will collaborate with the CBN to explore ways in which operators can access forex with an interest rate between 1.5% and 2%, as requested,” Keyamo stated.
In addition to addressing the forex challenges, the Minister also urged airline operators to prioritize safety measures for the success of the aviation industry.
Prior to this meeting, the President of Airline Operators of Nigeria, Abdulmunaf Yunusa, and his team appealed to the Minister for assistance in resolving recurrent forex and aviation fuel challenges.