Nigerian travel agents face heavy losses from Middle East crisis
The President of the National Association of Travel Agents of Nigeria, Yinka Folami, has voiced concerns about the severe impact of the Israel-Iran conflict on Nigerian travel agencies. He highlighted that the Middle East is a crucial travel corridor for Nigerians, and disruptions there are causing significant business losses. Yinka Folami also discussed the financial strain of processing refunds and the association’s ongoing advocacy to stabilize the industry. He further criticized international airlines for selling tickets exclusively in foreign currency, calling it harmful to the local economy.
TLDR
- Yinka Folami warned that the Israel-Iran conflict is severely affecting Nigerian travel agencies, especially due to reduced passenger traffic.
- Agencies are facing financial burdens from having to refund tickets in full, including commissions.
- The association has worked to combat cross-border ticket sales, which previously drained a large portion of the Nigerian travel market.
- Yinka Folami said advocacy efforts with airlines and government authorities have helped restore market stability.
- He criticized some international airlines for selling tickets only in foreign currency, calling it disrespectful to Nigeria’s sovereignty and damaging to the naira.
