Emma Smith
Mon, Sep 11, 2023 7:15 PMEmirates Airlines to Resume Flights to Nigeria and Lift Visa Ban
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Emirates Airlines has announced it will resume flight schedules to Nigeria and lift the visa ban on Nigerian travellers after a meeting between President Bola Ahmed Tinubu and President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan. The decision comes as positive news for Nigerian travellers and businesses.
Emirates Airlines had suspended flights to Nigeria last year due to difficulties repatriating funds from the country. In response, the UAE had imposed a visa ban on Nigerian travellers. However, President Tinubu's visit to Abu Dhabi has successfully resolved these issues.
President Tinubu met with investors at the G20 summit in India earlier this month, where he sought to attract foreign investments into Nigeria's growing economy. His efforts were well-received, and now the Nigerian and UAE governments have agreed on new investments across multiple sectors, including defense and agriculture.
The restoration of flight activities between the two countries is a significant boost to Nigeria's tourism and business sectors. Nigerian travellers will no longer face visa restrictions when traveling to the UAE, facilitating increased trade and interaction between the two nations.
According to Ajuri Ngelale, the president's spokesperson, this agreement does not entail any immediate payment by the Nigerian government. The two leaders have also established a framework for new investments amounting to several billions of dollars, which will be made by UAE's investment arms.
This development aligns with President Tinubu's commitment to bold reforms in Nigeria, including the removal of the petrol subsidy and the lifting of currency restrictions. These reforms have attracted the attention of foreign investors and have the potential to transform Nigeria's economy.
However, challenges remain. Nigeria faces dollar shortages, making it difficult for foreign airlines that sell tickets in Nigerian currency to repatriate their earnings. The liquidity issues in the country's official market have also contributed to a premium on the black market exchange rate.
President Tinubu's negotiation of a new foreign exchange liquidity program will aim to address these challenges and promote stability in Nigeria's currency market. The details of this program will be announced in the coming weeks.
The agreement between Nigeria and the UAE marks a significant milestone in the relationship between the two countries. It opens up opportunities for collaboration, trade, and investment, which will benefit both nations' economies and strengthen their ties.
Source of content: OOO News 2023-09-11 News
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