Nigeria to Restrict Dollar Use in Airline Ticket Sales

The Nigerian government is taking steps to curb the country's reliance on the US dollar, particularly in the airline industry. Currently, most foreign airline tickets purchased by Nigerian passengers are denominated in dollars, rather than the local currency, naira. This practice is contributing to the depreciation of the naira and strengthening the dollar's value in Nigeria.

According to government officials, airlines such as British Airways, Lufthansa, and Emirates are among those selling tickets in dollars, rather than naira, to Nigerian passengers. The government aims to address this issue and promote the use of the naira in domestic transactions.

By encouraging the use of the local currency, the government hopes to reduce the country's dependence on foreign exchange and stabilize the naira's value. "Just as the dollar is a currency, so is the naira," said a government representative, emphasizing the need for Nigerians to use their local currency for domestic transactions.

The proposed ban is part of broader efforts to strengthen the naira and promote economic independence. The government has already taken steps to restrict the use of foreign currencies in certain transactions, and this move is seen as a further attempt to assert the naira's dominance in the domestic economy.