Again, the issue of the blocked funds of the foreign carriers in Nigeria and other African countries has taken the centre stage in past weeks with many people airing their opinions on it.
It is no longer news that there is presently a cat and mouse relationship among many of the foreign airlines whose monies have been trapped and Nigeria in particular because of their huge funds trapped in the largest black country.
As at October, the trapped funds in Nigeria had accumulated to a whopping $792 million which makes the country the highest debtor on the globe.
The Vice President, Africa and Middle East Region, for the International Air Transport Association (IATA) Kamil Al-Awadhi confirmed this figure while addressing some journalists from Africa at the 2023 Global Media Day in Geneva, Switzerland.
According to Al-Awadhi, though other African countries like Egypt, Algeria and Ethiopia are also neck deeply involved in the indebtedness, yet Nigeria stands out not only because of its indebtedness, but also because of its manner of approach which, from all indications, lacked the rule of engagements by the Nigerian government.
The IATA VP, beside revealing how the inability of the foreign carriers to repatriate the trapped funds from Nigeria has drastically hindered their operational expansion, sounded a caution on how the failure of the country not to urgently resolve the lingering case may force many of the foreign carriers to start blacklisting Nigeria.
The outbursts of Al-Awadhi has since elicited mixed feelings amongst different stakeholders from within and out of the sector, with some condemning the IATA Chief for singling out Nigeria for attack while others laid the blame at the doorstep of government.
In whichever way one views the situation, out of the two groups involved in this bad situation, the airlines and the Nigerian government, one party is definitely feeling the heat of the trapped funds more than the other.
In this case, the foreign carriers must be the greatest victims, for having the proceeds of the legitimate services rendered through air transport between their home countries and Nigeria trapped.
Each time the issue of the blocked funds rears its head, the federal government is always quick to blame the development on the scarcity of forex which though may not be peculiar to Nigeria.
The question is, for how long will the foreign airlines continue to tolerate this excuse taking into cognisance the huge capital required to keep the business of flight operations afloat.
Agreed that Nigeria, like many countries of the world, may be going through economic challenges, inasmuch as the trapped funds the foreign carriers are demanding to be paid fall within their right in line with the principle of buy and sell, there is no justification for Nigeria to violate the agreement.
Sadly, for those who accused IATA of singling out Nigeria for attacks, there is the need to look inward. In other words, whatever embarrassment the situation must have brought on the country should be totally blamed on the federal government particularly those in the positions of tidying up such knotty issues whenever they occur.
The foreign carriers cannot fold their hands and watch their efforts being tied up in a country where those in government spend bigger than the trapped funds on frivolous and mundane things.
Everyday, the whole world reads or hears about how government officials mismanage public funds and yet it is being expected that foreign and even indigenous investors will be comfortable with their hard earned funds lying fallow in such a system.
The point is that as long as the government fails to defray the accumulated funds, the more Nigeria’s image will continue to be battered across the world. Presently, Nigeria’s image among both foreign and, indigenous investors is nothing to write home about as a result of failing honour business agreements.
Without doubt, most of the embarrassments and other unpleasant experience Nigerians are being subjected to globally can be attributed to the long years of lackadaisical attitude of the federal government towards issues in the sector.
It is on record that Nigerians pay the most expensive fares to travel to foreign countries and yet the government feels unconcerned even when reasons for the high fares have been traced to the decision of the foreign carriers to suspend the sales of low fares in Nigeria.
While the federal government’s action has further complicated the hardships Nigerians are going through due to bad governance, it has equally failed woefully to even support its indigenous airlines which Nigerians can turn to as alternatives should the foreign carriers blacklist the country of the trapped fund.
READ ALSO FROM NIGERIAN TRIBUNE
