United Nigeria Airlines’ founder, Professor Obiora Okonkwo, has praised the forex policy of President Bola Tinubu, highlighting the tremendous advantages it has brought to the airline industry.
Speaking at an event marking the 4th anniversary of the airline on Wednesday in Abuja, Okonkwo cited how the forex policy had provided some relief, while the domestication of the Cape Town Convention also helped reduce operational costs in the industry.
According to the professor, “I think that the forex policy of the Tinubu administration has been of tremendous advantage to the airline industry.”
However, he lamented that multiple charges imposed by government agencies in the aviation sector remain a major challenge for domestic operators and called on the federal government to urgently address the issue.
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His words: “Before he (Tinubu) came into power, it was a nightmare for us to convert naira to foreign currencies to meet our obligations. We lost a whole lot of contracts. We lost a lot of vendors because our money was stuck in naira in the bank, and we couldn’t get the forex we needed. You couldn’t even go and help yourself elsewhere. But now, it’s a different story. You don’t need to track funds anymore. As I mentioned, for the foreign operators, the government has cleared that almost a billion US dollars.
“It has opened up a new window for better relationships. Our reputation and integrity in the international aviation industry are better now. So, we are happy with it.”
Still speaking, Okonkwo recalled: “I can tell you that our biggest challenge as operators is the passengers. The same passengers we strive day and night to serve and please are the ones who turn around and become unruly for no justifiable reason.
They overemphasise the issue of delays. Delays happen in any part of the world, but we need to work together with the press to educate the traveling public about their rights and obligations. We know what we owe them as operators.
“We go above and beyond to please them. We often do more than what local flight operators in any part of the world do to satisfy passengers, but despite all that, their attitudes and behaviors put a lot of stress on the operators. Sometimes, passengers physically assault staff and damage equipment at airports.
“The policies I mentioned—the forex policy, the policy of domesticating the Cape Town Convention, and the new practice direction have all helped to reduce many of the burdens that domestic operators previously struggled with.”
Reiterating his call for the government to create a window for airlines to access funds at a reduced rate and to cut multiple charges, Okonkwo explained: “One thing that will help the growth of this industry is for the government to develop a program that gives local operators access to single-digit loans.
“They need to cut down the charges operators pay to different government agencies. In total, there are about twenty charges. The profit margin in this business is very low, and if we have to meet all these charges from NCAA, NAMA, FAAN—we are left with nothing. It’s affecting us. We need more funds to develop, expand, and improve the working environment for our staff.
“The government must realize that access to credit is very important for us operators because we are competing with people who have access to loans at 3–5 percent interest rates. Aviation is a global industry, and we can’t compete under these conditions.”
Also speaking, the Executive Director and Chief Operating Officer of the airline, Mazi Osita Okonkwo, said the airline had opened more routes across the country, adding Benin, Kano, and Sokoto to its network.
According to him, UNA recently renewed its certification, and plans are at an advanced stage for the commencement of its regional and international operations.
The ED noted that its engineers recently achieved an industry-first feat by replacing the aircraft’s landing and nose gears without foreign assistance.
He further stated that the airline’s fleet expansion drive has resulted in the acquisition of new planes, and the company plans to operate flights to 25 destinations by 2026.
