Forex Scarcity: Emirates Airlines Suspends Operation in Nigeria

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By Reporter 

The United Emirates flag carrier, Emirates Airlines has announced the suspension of its flight operations to Nigeria, starting September 1, 2022.

The airline disclosed this in a statement this Thursday, August 18, 2022, citing the inability to repatriate its earnings in foreign exchange from Nigeria.

Last month, Emirates asked Hadi Sirika, Minister of Aviation, to support the repatriation of its revenue, amounting to $85 million. Nigeria is facing a forex exchange crisis and this has also affected the nation’s local currency, Naira to depreciate against the dollar.

The airline said the suspension would “limit further losses and reduce the impact on its operational costs that continue to accumulate in the Nigerian market.”

Emirates said it has taken the difficult decision to suspend all flights to and from Nigeria, effective 1 September 2022, to limit further losses and impact on our operational costs that continue to accumulate in the market.

“We sincerely regret the inconvenience caused to our customers, however, the circumstances are beyond our control at this stage.

“We will be working to help impacted customers make alternative travel arrangements wherever possible.

“Should there be any positive developments in the coming days regarding Emirates’ blocked funds in Nigeria, we remain keen to serve Nigeria, and our operations provide the much needed connectivity for Nigerian travellers, providing access to trade and tourism opportunities to Dubai, and to our broader network of over 130 destinations.”

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