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HomeBusinessNigeria to resume cargo flights with Saudi Arabia, says Keyamo

Nigeria to resume cargo flights with Saudi Arabia, says Keyamo

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In a significant development for Nigeria’s aviation sector, Minister of Aviation Festus Keyamo announced plans to resume cargo flights between Nigeria and Saudi Arabia.

This announcement was made during the third ministerial update in Abuja on Monday, where Keyamo highlighted the sector’s recent achievements.

Keyamo revealed that the decision to resume cargo flights was finalized during a recent visit to Saudi Arabia, where he met with his Saudi counterpart.

“I have good news for you from Saudi Arabia. I met my counterpart in Saudi Arabia, and we have agreed to resume cargo flights,” Keyamo stated.

The resumption of these flights, which had been suspended for an extended period, is expected to enhance trade and logistical connections between the two nations, significantly benefiting both economies.

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Additionally, Keyamo addressed the issue of foreign airlines’ funds trapped in Nigeria. He noted that the Federal Government, in collaboration with the Central Bank of Nigeria (CBN), has cleared a longstanding backlog of these trapped funds.

This resolution has facilitated the return of Emirates Airlines to Nigerian airspace.

Emirates announced on May 16, 2024, its plans to recommence flights to Nigerian airports starting October 1, 2024, following a prolonged absence from the country.

The CBN had earlier stated in January that the Federal Government had completed the payment of all verified claims by foreign airlines, disbursing an additional $64.44 million to the concerned airlines.

This brought the total verified amount paid to the air transport sector to $136.73 million, ensuring that “all the verified airline claims had now been cleared.”

Keyamo emphasized that these measures have positively impacted the financial stability of Nigeria’s aviation industry, marking a new era of enhanced connectivity and economic cooperation between Nigeria and Saudi Arabia.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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