The current economic reality in Nigeria has caused a significant decline in passenger traffic at the Murtala Mohammed International Airport (MMIA), Lagos and the Nnamdi Azikiwe International Airport, Abuja according to a new report.
According to Statistics from the Nigeria Civil Aviation Authority (NCAA) and other sources in the sector showed that in 2023, 2.04 million Nigerians travelled out of the country, but recorded a drastic decline in 2024 to a paltry 816,000 from the first quarter (Q1) to third quarter (Q3), 2024, representing a 60 per cent drop in the load factor.
The continuous high rates of foreign currencies, especially the United States dollar, had made foreign travel very expensive for Nigerians, who usually embarked on overseas trips for holidays and weekend visits, which aviation stakeholders described as “frivolous or casual travels.”
The statistics showed that a total of 2,856,000 million passengers travelled in 2023 and 2024, with a decline of 1,226,000, representing a 60 per cent fall in the current year.
Also, there has reportedly been a decline to the over 600 per cent increment in the prices of foreign air tickets in the last few years.
An economy seat to the United States of America that was N350,000 prior to the floating of the naira in May 2023 is now between N2.7 million to N3 million, thereby, making foreign travel a necessity.
“It is true, traveling has declined by 40 to 50 per cent. The decline is due to poor showing of every other sector in Nigeria. ‘ President of the Association of Foreign Airlines Representatives in Nigeria (AFARN), Dr Kingsley Nwokoma, told Leadership News
It’s not limited to only the flying public, you need money to buy air tickets before you can go anywhere and holiday makers are now looking for cheaper alternatives such as going for vacation in the West Coast, Nigeria and when you go within West Coast buses or in their vehicles.
“It’s unfortunate, this is where we are, but we hope things get better because it’s a chain and it’s not limited to aviation. We hope things return to normal where families can all travel for summer.
“For instance, for a family of four to buy tickets, you will pay through your nose and parents have school fees and other important bills to pay. Even for local flights, from Lagos to Abuja is over N200,000 and to the South East, it is over N300,000; this is a reflection of our economy.”