Nigerian Entrepreneur Atedo Peterside Voices Concern Over Niger Republic Airspace Closure, Foresees Impact on Flights to Europe.
Atedo Peterside, a prominent Nigerian entrepreneur, investment banker, and economist, has expressed his apprehension regarding the closure of Niger Republic airspace and its potential impact on Nigerians, especially those planning to travel to Europe.
In a social media post, Peterside highlighted that the closure could lead to increased flight costs from Nigeria to Europe. He also warned that the situation might worsen if Burkina Faso or Mali follows suit in denying overflight rights to Nigerian-bound aircraft. This, he believes, would significantly raise inbound and outbound flight expenses between Nigeria and Europe.
The closure of Niger Republic’s airspace was initiated by the military junta after the West African bloc, ECOWAS, set a deadline for the junta to hand over power to the democratically elected President, Mohamed Bazoum, which has expired.
Presently, it has been reported that the Lagos-London fare is 49% higher than the Accra-London fare and 162% higher than the Cotonou-London fare. Additionally, the Nigerian airfare has escalated due to forex shortages.
As the situation unfolds, concerns are mounting about the potential economic consequences for Nigerian travelers and businesses, particularly with regards to flight accessibility and affordability for European destinations.
Credit: The Nigeria Lawyer