Travel Agents Face 40% Sales Drop Amid Middle East Crisis

The Nigerian Travel Agents Association (NANTA) has reported a significant decline in ticket sales, with members experiencing a 30-40% drop due to the ongoing crisis in the Middle East. This situation has resulted in numerous complaints regarding ticket refunds.

Yinka Folami, the president of NANTA, criticized foreign airlines for insisting on selling tickets in U.S. dollars, which he argued undermines Nigeria's economy and currency. He emphasized that this practice distorts the economy and contradicts government efforts to stabilize the naira.

Folami also mentioned that the bilateral air service agreement (BASA) allows foreign airlines to operate in Nigeria but does not respect the naira, which he deemed unacceptable. Daisi Olotu, a trustee of NANTA, highlighted the excessive taxation on travel agencies, noting that taxes account for 50% of the total cost of international tickets, further straining the agencies during this crisis.

NANTA is set to address these issues at its 50th annual general meeting scheduled for April in Ibadan, Oyo State.