The federal government has disclosed its intention to investigate foreign airlines over closure of lower inventories that has led to astronomical increase in airfare.
NATIONAL ECONOMY reports that foreign airlines have shut lower inventories against Nigerians over their trapped $550million with the Central Bank of Nigeria (CBN).
Speaking when the president of the National Association of Nigeria Travel Agencies (NANTA), Susan Akporiaye, visited the headquarters of the Federal Competition and Consumer Protection Commission (FCCPC), over the high airfare, the executive vice chairman and chief executive officer, Babatunde Irukera, said the commission would study the issues and engage in necessary interventions which may include inviting parties and other stakeholders involved.
Irukera, however, commended the association for its trust and confidence in government- structured competition and consumer protection ecosystem.
He said, “We at FCCPC welcome your request for guidance and will do our best to help determine possible steps to solve this problem which affects Nigerians, but will first put up an investigation team to determine what led to this impasse and possibly infractions against the travelling public.”
Speaking earlier, the president of NANTA, said the visit to the FCCPC was to seek guidance and next line of action over foreign airlines high fares and closing of lower inventories to travel agencies across the country.
The NANTA boss decried the foreign airlines high handedness on the matter which had created uproar among Nigerian travelling public and also evidently led to the shutdown of many travel trade companies and consequent job losses.
She further noted that, her team requested the FCCPC to assist NANTA and the Nigeria travelling public with remedies that will curb the unfair practices in the downstream aviation sector and how best to articulate its position going forward.
Akporiaye, however, disclosed that the association is committed to protecting its members and their businesses from any form of exploitation and unfair practices from any quarter.
“Sir, we strongly view from our professional experience and knowledge of fare mechanism, that the reactions of foreign airlines on trapped funds is grossly unfair to the Nigerian travelling public and gravely threatens the survival of NANTA members,” Akporiaye explained.
She said the visit to the FCCPC was for guidance and solutions-driven advice on the face off with foreign airlines over unfair airfare pricing in Nigeria.
