Air fares are expected to increase by over 50 percent as the exchange rate for ticket pricing in Nigeria reaches N770/$, according to recent findings by BusinessDay. https://businessday.ng/news/article/air-fares-seen-rising-as-exchange-rate-hits-n770/

This surge comes after the Central Bank of Nigeria floated the naira and instructed commercial banks to sell foreign exchange at market-determined rates, collapsing all forex windows into the Investors & Exporters Window. The exchange rate on the International Air Transport Association (IATA) platform has fluctuated from 663.04/$ to N770/$, leading to a rise in air fares.

Economy class ticket prices have already seen a significant increase of N200,000 to N250,000 between Tuesday and Wednesday. Experts predict that if exchange rates continue to rise, economy class fares may surge from N1.2 million to as high as N1.8 million and above, while business class fares could rise from N4 million to N6 million or more.

The President of the National Association of Travel Agents of Nigeria (NANTA), Susan Akporiaye, stated that ticket prices are determined by the daily closing rate of the Investors and Exporters Window.

The fluctuating exchange rates on the IATA platform have been influenced by the deregulation of the naira, allowing prices to be determined by market forces. Akporiaye emphasised that ticket prices cannot be determined until the point of purchase, as they may vary on a daily basis. The current exchange rate of N770/$ is the highest recorded so far.

The volatility in exchange rates and the subsequent increase in air fares pose challenges for travellers and the travel industry. The uncertainty surrounding ticket prices calls for caution and flexibility when planning air travel, as prices may change rapidly.


Read more: https://medium.com/@flyingdemystified

The poor masses continues to suffer

saintjimos:
The poor masses continues to suffer

All these poor masses blackmail wouldn't work anymore. The reality on ground is that we Nigerians have to start demanding more from the government. The era of freebies or subsidy is dead and gone. We should demand more jobs, raise in minimum wage, good education, power, education, health insurance and above all security. It's tough out there, infact everywhere.

I just bought 866 make una dey play

saintjimos:
The poor masses continues to suffer

The same poor masses that sold their votes for as low as 5k back in February?

Sometimes, I find it hard to pity Nigerians.

for me, I will not blame Nigerians for all this. Nigerians played their part and voted massively for LP and Obi shocked them. Obi did well even in south west and won some south west states by far from the real result.

The people to blame is INEC and APC corrupt politicians for forcing in Tinubu as president.

Some people don't know the effect of a bad or weak currency. Naira is dead as we speak. All the gadgets and electronics or foreign goods in Nigeria would see their prices increase in your markets. phones you buy 40k would shoot up to 60k. when dollar gets to 1k which is getting there soon, prices of imported items would increase and na me and u de buy them. The earlier Peter Obi reclaims the mandate the better....if not it will get to a point that even Obi won't be able to save Nigeria from shegenomics.

HarunaWest:
All these poor masses blackmail wouldn't work anymore. The reality on ground is that we Nigerians have to start demanding more from the government. The era of freebies or subsidy is dead and gone. We should demand more jobs, raise in minimum wage, good education, power, education, health insurance and above all security. It's tough out there, infact everywhere.

I agree with you on this

Let call on Sunny Okosun's which way Nigeria?

okosodo:
I just bought 866 make una dey play

ThankUUJesus:
for me, I will not blame Nigerians for all this. Nigerians played their part and voted massively for LP and Obi shocked them. Obi did well even in south west and won some south west states by far from the real result.

The people to blame is INEC and APC corrupt politicians for forcing in Tinubu as president.

Some people don't know the effect of a bad or weak currency. Naira is dead as we speak. All the gadgets and electronics or foreign goods in Nigeria would see their prices increase in your markets. phones you buy 40k would shoot up to 60k. when dollar gets to 1k which is getting there soon, prices of imported items would increase and na me and u de buy them. The earlier Peter Obi reclaims the mandate the better....if not it will get to a point that even Obi won't be able to save Nigeria from shegenomics.

Ole! You have not woken even now. That fraud wiill look for his man wood for eternity. South west people are not dumb like you headless things. We are progressives.

Better I,go any west African countries,or Cotonou and board flight,and save more.
let the poor breath abeg.