General News
Passengers Stranded at Lagos Airports Over Increased Fares
Hundreds of intending passengers were on Thursday stranded at the two domestic Lagos airports over hike in fares by airline operators.
The operators capitalised on the Christmas rush to increase their fares.According to the reports gathered, the air ticket for an hour flight currently ranged from N30, 000 to N43, 000, depending on the carrier.
This was against N18,000 to N30,000 a few days ago.
Officials of some of the airlines said the rush for tickets was more pronounced on Lagos, Enugu, Abuja, Owerri, Calabar and Port Harcourt routes.
The carriers currently operating commercial services in the country are Arik Air, Aero Contractors, IRS Airlines, Med-View Air and Overland.
Findings at the Lagos airports as well as enquiries from airline representatives showed that the average fare on the Lagos-Enugu route, which was less than 45 minutes, was N35, 000 as against N20, 000 about two months ago.
Similarly, the Lagos-Abuja route attracted an average ticket price of N40, 000.
This was against an average of N24, 000 recorded some weeks ago.
On the Lagos-Port Harcourt and Lagos-Owerri routes, it costs between N38, 000 and N45,000.
NAN recalls that, Mr Yakubu Dati, the General Manager, Corporate Communications, Federal Airports Authority of Nigeria (FAAN), had on Dec. 11 advised Nigerians to make use of passenger service portals.
Dati said that this was to help them plan their trips ahead in order to avoid last-minute stress.
He said the platforms empower passengers with tools to make the traveling experience seamless for them during periods when there is an upsurge in demand for air transports
Some of the passengers who spoke to NAN wondered why fares were always hiked during the festive periods.
Mr Olumide Faleti, a traveler who was heading to Enugu from Abuja said: “it is funny how things operate here. This is a time to share and not to exploit your passengers.’’
According to him, domestic airlines should learn to introduce low cost promotional fares to attract travelers instead of exploiting passengers as a result of the season.
He regretted the dearth of local carriers in the sector, adding that, the few in the business were cashing on the development at the detriment of their customers.
Another passenger, Dr Mayowa Olawale, said before now he had been searching for low cost fares online but could not get any.
“I’m on my way to Abuja where my parents reside. I searched on the Internet for promotional fares but was disappointed when I found out that all the carriers going my way had their ticket prices above N35, 000,” he said.
Meanwhile, some ticketing officers, who pleaded anonymity said that the difference in airfares when compared to what they used to be was normal at this period.
“It is normal for airfares to rise, especially during Christmas and as the year comes to an end. It is not only our airline that has increased fares,’’ he said.
Nigeria’s Buy Now, Pay Later (BNPL) market is on a fast-growing trajectory and is predicted to be valued $2.61 billion by 2030, up 83% from $1.42 billion in 2024, owing primarily to the rapid emergence of fintechs in the country.
This observation was stated in EnterpriseNGR’s State of Enterprise 2025 report, which focuses on how fintechs are reshaping Nigeria’s business landscape through digital innovations, accessible credit systems, and mobile-first financial tools.
As a credit system, BNPL allows users to stagger payments for products and services, making it a key development driver in Nigeria’s developing digital economy.
From 2021 to 2024, the BNPL experienced a compounded annual growth rate of 23.1%. Fintechs have contributed to the rapid growth by providing a range of flexible loan alternatives for e-commerce, retail, and services, bridging financial gaps for millions of disadvantaged Nigerians.
The report highlights how fintechs have contributed to Nigeria’s flexibility and resiliency by simplifying digital payments, automating invoicing and payroll systems, and democratising credit through platforms such as Renmoney and FairMoney.
The report also shows a significant rise in remittance inflows into Nigeria following the Central Bank of Nigeria’s 2024 policy adjustments.
According to the report, by 2024, Nigeria boasted over 400 licensed digital lenders who extend collateral-free credit to those commonly excluded by banks.
The Nigeria Immigration Service (NIS) strengthened bilateral relations with the Netherlands’ government through an agreement targeted at improving migration governance and border security.
This partnership was confirmed during a meeting at the NIS headquarters in Abuja, which was attended by a Dutch team led by Jurgen Bartelink, Chargé D’Affaires of the Embassy of the Netherlands in Nigeria.
The meeting focused on increasing bilateral migration cooperation and came after the comptroller general of Immigration, Kemi Nandap, paid a working visit to the Netherlands.
Under the agreement, the Dutch government pledged to continue supporting technology-driven solutions targeted at boosting Nigeria’s border control systems and improving migration management.
During the Netherlands Embassy diplomats handed over essential operational tools, such as Edison Software licence keys and the Passport Examination Programme Manual App.
According to NIS spokeswoman ACI Akinsola Akinlabi, “The partnership focuses on enhancing bilateral collaboration on migration management and reviewing ongoing capacity-building efforts.”
Bartelink, Chargé d’Affaires of the Netherlands Embassy in Nigeria, underlined the Netherlands’ commitment to helping Nigeria’s continuing border security and migration reforms.
Also speaking, Rob Bokhoven, head of international affairs, repatriation, and deportation services at the Dutch Ministry of Justice and Security, emphasised the country’s strong bilateral relations and announced plans to share a mobile border software solution with the NIS.
Receiving the equipment, Nandap said the delivery of the gadgets would boost West African country’s border security, significantly improve the service’s document verification border management capabilities and support the implementation of Nigeria’s National Migration Policy.
“The engagement will further reinforce the strategic partnership between Nigeria and the Netherlands advancing shared goals in migration governance, border security and international cooperation,” she added.
Peter Enogb, principal country economist, African Development Bank (AfDB), says the rise in global uncertainty, emanating from increases in global trade tariffs, has slowed Nigeria’s projected growth to 3.2% in 2025.
“Without this level of heightened uncertainty, our projections would probably have been somewhat higher. We’ve reduced our projections for Nigeria. We initially were projecting 3.5% – 3.6% growth in 2025.
“But given the current situation, our models are showing that we’re taking a more cautious approach. So that’s why we produced this and, of course, the main driver is uncertainty in the global economy,” Enogb said.
He said this at the launch of the 2025 Nigeria Country Focus Report (CFR) on Thursday.
AFDB projected that real GDP growth would hit 3.1% in 2026. Following the 2024 consumer price index (CPI) rebasing, with lower weights for food items, the inflation rate is expected to reduce over the medium term to 24.7% in 2025 and 17.3% in 2026.
As imports start to rise over the medium term, the current account is projected to decline to 3.9% of GDP in 2026.
The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation slowed for the second consecutive month to 22.97% in May. This is down from 24.48% at the start of the year
This is contrary to the World Bank projection that Nigeria’s economy would record steady growth of 3.6% despite the shift in the global trade dynamics.
Joseph Ogebe, head of research and development at Nigerian Economic Summit Group (NESG), also said that global uncertainty had been very high in recent times, resulting from the Trump 2.0 effect.
“And also with the recent war between Israel and the international community, we’ve seen what’s happening to oil prices. Even with the call-off of the war, we’ve seen the effect on oil prices too, which has implications on the fiscal side. So it has implications for the general economy,” he said.
The head of research at NESG said that rather than focusing on just growth, what should be looked at is a strategy called growth with depth.
“Growth with depth means that your growth must be diversified, export-led, productive, and technologically driven,” he said.
Ogebe said that if the Government works towards adopting a strategy of growth with depth, there is a tendency for the government to move towards its goal of achieving a $1 trillion economy by 2030.
The report revealed that the country’s recent policy moves, including fuel subsidy removal, exchange rate unification, and tax reforms, reflect a commitment to long-term transformation.
However, it also pointed out that at about 13%, Nigeria’s tax-to-GDP ratio is among the lowest in West Africa, noting that fiscal reforms are urgent.
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