International Travels: Nigerians Pay More Than Neighbouring Countries, Airlines Give Reasons
- Analysis of airfares from Lagos to London by some airlines shows that Nigerians pay more
- While London to Lagos flight on Turkish Airlines costs about N1.3 million, its costs about N380,000 in one of the neighboring countries
- Analysts say the reason for the vast disparity is due to the law of demand and supply
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A recent viral social media post revealed how international airlines charge Nigerians more than citizens of other African countries.
According to the post, Lagos to London costs about $1,636, about N1.3 million, while Cotonou to London flight on the same airline costs about $469 or N380,000.
Source: Getty Images
Ghana, Benin, Togo enjoy less airfares than Nigeria
Investigations, however, show that almost all neighboring countries enjoy cheaper airfares than Nigeria despite the volume of travel from the country.
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Analysts have said the law of demand and supply was at play, including Nigeria's lack of reciprocity.
The Lagos to London route is a benchmark because of its busy nature, with Nigerians frequenting the United Kingdom primarily for education, business, and residency.
A direct flight from Lagos to London lasts about six hours and 30 minutes.
Turkish airlines leads in high cost of airfares on the Lagos to London route
Turkish Airlines is said to be the most expensive of the tickets, while Lagos to London flight costs about N2.7 million, and the cheapest advertised fare costs N1.1 million.
- Lagos to Amsterdam: Turkish Airlines: $1,797.
- British Airways, Lagos to London, one-way ticket: N2.7 million
- Ethiopian Airlines, Lagos to London N941, highest N1,552 million.
- Rwanda Air, Lagos to London: N2 million
According to stakeholders, the business climate, naira depreciation, and trapped funds belonging to international airlines are reasons for Nigeria's high cost of flight tickets.
The airlines fixed the exchange rate at N803 to a dollar from N776 as of the time of writing, while trapped funds belonging to international airlines have soared to $800 million.
Travel agencies gives reasons for high cost airfares from Nigeria
Daily Trust reports that the National President of Nigerian Travel Agencies (NANTA), Susan Akporiaye, said comparing Nigeria with neighboring countries regarding airfares would be unfair.
Akporiaye said the economic situation in Nigeria is different from the other countries.
She said the airlines were not selling their tickets lower because of trapped funds.
She revealed that travel agencies asked the National Assembly five years ago to pass a law making the airfares at par with what is charged in neighboring countries.
Lagos to London one way ticket no more N800k as airlines adjust prices to match naira depreciation
Legit.ng reported that foreign and local airlines have adjusted their airfare to reflect the drop in the naira's value in the official foreign exchange market.
This development follows the Central Bank of Nigeria (CBN)'s decision to float the naira and the directive to commercial banks to sell foreign currencies at market-determined rates.
Punch reports that the International Air Transport Association (IATA) platform has decided to adjust its exchange rate for pricing tickets in Nigeria from 663.04/$ to N770/$.
Source: Legit.ng
