Nigeria sinking into economic nightmare

Dino D'Amore
By Dino D'Amore June 9, 2016 20:42

Nigeria sinking into economic nightmare

As reported here before; United and Iberia are pulling out of Nigeria as the government is urged to release more than $600 million in air ticket sales blocked by the West African nation’s chronic shortage of foreign currency. United Airlines spokesman Kevin Johnston confirmed Wednesday that the airline’s last flight from Lagos to Houston is June 30. Iberia left in May, citing “very difficult operating circumstances and dwindling passenger numbers.”
Most foreign airlines have stopped accepting Nigeria’s troubled naira currency after the government stopped access to foreign exchange last year. British Airways on the other hand classes the London Lagos route as one of the key routes in its network and as such if it is forced to cut the route then we will know for sure that things would have reached a significant low point. The Nigerian economy has not been able to stabilise following the collapse of oil revenues.
Dino D'Amore
By Dino D'Amore June 9, 2016 20:42