Business
Nigeria Tops With $812.2m As Airlines’ Unrepatriated Funds Hit $2.27bn – IATA
The International Air Transport Association (IATA) has revealed that Nigeria tops the list of countries in which airlines’ funds blocked from repatriation account for 68% worldwide.
IATA said the airlines’ funds blocked from repatriation increased from $1.55 billion in April 2022 to $2.27 billion in April 2023.
The association warned that the rapidly rising levels of airline funds blocked from repatriation pose a danger to airline connectivity in the affected markets, as it said the increase amounted to 47%.
READ ALSO: Debt: Shehu Sani Asks Tinubu To Probe Buhari’s Govt
“Airlines cannot continue to offer services in markets where they are unable to repatriate the revenues arising from their commercial activities in those markets,” IATA’s Director-General Willie Walsh said in a statement.
He disclosed that governments need to work with industry to resolve this situation so airlines can continue to provide the connectivity that is vital to driving economic activity and job creation.
The air transport association listed the countries with the highest debts as Nigeria ($812.2 million), Bangladesh ($214.1 million), Algeria ($196.3 million), Pakistan ($188.2 million) and Lebanon ($141.2 million).
READ ALSO: Buhari Writes Senate, Seeks Approval To pay N226bn, $556.8m, £98.5m Judgement Debts
Walsh also urged governments to abide by international agreements and treaty obligations to enable airlines to repatriate the funds arising from the sale of tickets, cargo space, and other activities.
Business
Naira Records Massive Appreciation Against US Dollar Into Christmas Holidays
The Naira gained massively against the United States dollar in the last three days at the official foreign exchange as trading ended for the Christmas holidays.
Central Bank of Nigeria data showed that the Naira strengthened further on Wednesday to N1,443.37 per dollar, up from N1,449.99 on Tuesday.
This means that since Monday this week, the Naira has recorded a significant N13.18 gain against the dollar, according to the apex bank data.
READ ALSO:Naira Records Depreciation Against US Dollar Across Official, Black Markets
Similarly, at the black market, the Naira traded on Wednesday at N1,490 per dollar, an appreciation from the N1,500 exchanged on Monday but the same rate as on Tuesday.
The uptrend comes amid the rise in the country’s external reserves to $45.24 as of December 23rd, 2025.
DAILY POST reports that the Naira gained against the dollar at the official market on Monday and Tuesday.
Business
Report Any MRS Filling Stations Selling Fuel Above N739 Per Liter — Dangote Refinery To Nigerians
Dangote Refinery has urged Nigerians to report any MRS filling station outlets nationwide selling fuel above the N739 per liter announced price.
The company disclosed this in a statement on Sunday.
The refinery insisted that its petrol being at retail outlets remain N739 per liter while the gantry price is N699.
It further called on other filling station owners to patronize its refined petroleum products at the N699 rate.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market.”
READ ALSO:Dangote Sugar Announces South New CEO
Recall that Aliko Dangote, the president of Dangote Refinery, had pegged the retail price of his petrol at a maximum of N740.
DAILY POST reports that MRS filling and other filling stations had reduced fuel prices to between N739 and N912 per liter in Abuja.
However, reports emerged that some MRS filling stations were selling above the N739 per liter announced price benchmark.
Business
Naira Records Significant Appreciation Against US Dollar
The Naira recorded significant appreciation against the United States dollar on Monday at the official foreign exchange market to begin the week ahead of Yuletide on a good note.
The Central Bank of Nigeria’s data showed that the Naira strengthened to N1,456.56 per dollar on Monday, up from N1,464.49 traded on Friday last week, 19th December 2025.
This means that the Naira gained N7.93 against the dollar when compared with the N1,464.49 was exchanged as of Friday, December 19, 2025. DAILY POST reports that Monday’s gain at the official FX market is the first since December 15th.
READ ALSO:
Meanwhile, at the black market, the Naira remained stable at N1500 per dollar on Monday, according to multiple Bureau De Change operators in Wuse Zone 4, Abuja.
The development comes as the country’s external reserves stood at $44.66 billion as of last week Friday.
News5 days agoPHOTOS: New Era In Furupagha-Ebijaw As Okpururu 1 Receives Staff Of Office
- News4 days ago
UBTH CMD Marks 120 Days In Office, Expresses Commitment To Providing Conducive Working Environment
- News4 days ago
FIRS Confirms NIN As Tax ID
- News5 days ago
OPINION: Gumi And His Terrorists
- News5 days ago
FG Declares Public Holidays For Christmas, New Year Celebrations
- Metro4 days ago
Fintiri Pardons Man Sentenced To Death For ‘Killing Herdsman In Self-defence’, Others
- News5 days ago
OPINION: Christmas And A Motherless Child
- News3 days ago
JUST IN: Kano Lawmaker, Sarki Aliyu Daneji, Dies Hours After Colleague’s Passing
News4 days agoOPINION: My Man Of The Season
- News4 days ago
KWAM 1 Withdraws From Awujale Race, Ends Court Challenge
