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Cross-border trading unethical, suppresses Nigerian market — NANTA boss

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For more than a year, Yinka Folami has steered the National Association of Nigerian Travel Agencies, a body of over 3,500 members, through some of the most challenging times in the downstream aviation sector. In this interview, the NANTA President speaks candidly about leadership, professionalism in travel agency practice, evolving industry policies, and the burning issues of cross-border trading, dollar sales, and their implications for Nigeria’s aviation landscape. OLASUNKANMI AKINLOTAN brings excerpts

you’ve led NANTA, an association with over 3,000 members, for more than a year now. What has the experience been like managing such a large body of industry players?

It’s been very interesting and, of course, challenging. But the important thing is that we are about 13 in council. The moment our administration came in, we decided to run a collective council. So, you find that there is a lot of delegation that goes on. We put our best foot forward. If we can do it, we better do it. So, it’s not as if I’m the only one leading. It’s the council that is leading. And the council also gets advisory support from the BO team. So, I believe that across both platforms, there is competence to lead the 3,500 members fairly.

Over two decades ago, you established your company. From a professional perspective, how would you assess the aviation sector since then?

Well, the aviation industry is evolving. So, basically, that’s what I would say. I would say that it is evolving. I would say that the pace could have been better, you know. But, obviously, the development of every sector is always a function of who leads that sector, or who is the head. If you place the current Minister of Aviation six years behind, maybe take him back to 2020 or 2018, somebody like this would have had major progress. So, if you backtrack the current minister to maybe six years before he came in, and if he was a person in charge of affairs, the aviation industry would have made so much more progress than we have at the moment.

That is not to say the previous ones did not have their own records and achievements. But the present one is very passionate, and he’s eager. So, he’s quick about a lot of things. One of the things that has saddled the aviation industry in Nigeria, particularly upstream aviation, we are in downstream because we are in sales; upstream is the airlines and their fleet and all of that, one of the things that has saddled the upstream aviation industry in Nigeria is the lease, the ban on Nigeria on leases of aircraft. You know, aircraft are very expensive. Most of these countries that thrive in aviation have access to lease agreements.

But, for a long time, Nigeria had been banned from getting access to particularly dry leases. So, what we have are wet leases, and wet leases are very expensive. What the aviation minister has done in the short while that Keyamo has been here is that Nigeria has been unbanned by many of these foreign players, such as South Africa, the Irish, and all of that. We are expecting that, obviously, local airlines will have better access to dry leases.

Another thing that I believe the government has to look at, and look into, is maybe access to funding. Funding aviation with a three-digit interest rate is difficult. What I would say is that we are evolving. But we are happy that we have the energy of the present leadership in aviation.

There’s a common perception that one can succeed in the travel agency and ticketing subsector with little or no experience. Would you say that’s true?

That’s not true. That’s absolutely not true, except you want to be a council and book anything. There are so many like this. You need the operations expertise, and you need the finance expertise. To run a successful travel agency, you have to be a competent professional manager. And when you say a ‘professional manager’, it’s somebody who spans everything. You have to be a finance person, you have to be a marketing person, and you have to be an operations person. We have doctors who have travel agencies now. We have lawyers and a lot of people who work for the bank at high levels. They own travel agencies now. You have to be a proper manager. And there are some specific operations, tickets, and reservation skills that you need to have. There are certification organisations like IATA and all of that, which are international. You have to acquire those skills. And they develop every time, because airline rules come up every day. So, you have to be educated to be able to follow up on them. And if you don’t follow up on them, one wrong command can set the ticket back. One wrong command can set the tickets back; one wrong command can lead to AGMs. So, it evolves.

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And then, secondly, you have a situation where you also have new airlines coming in every day. You have to learn about their product. For every new airline that comes in, you have to learn about their product. You have to go for specific training. Now, let me tell you where, in downstream innovation, the travel agency is really the master, and where, professionally, it can be seen to be even more competent than an airline staff. A travel agent needs to understand how all the airlines that operate into his base operate. So, he has to be a master of Kellen, he has to be a master of Air France, he has to be a master of Virgin, he has to be a master of Delta, and he has to be a master of United. He has to understand all the rules and policies of every one of those airlines. Everyone! Because he is servicing his clients, and his clients can go on any of the airlines.

Say you are an operations professional and you are working in just one airline. Your responsibility is to understand the policies and rules of the airline. But my responsibility is to understand the policies and rules of over 30 international airlines that fly into Nigeria, and we’re not even talking about the domestic ones. So, it’s not only that you need to be competent.

You also need to have the skills and to continuously develop yourself. Everybody who works in this office, for example, is a graduate. I can tell you that, easily, out of the 3,500 members, if you take a dipstick, I can tell you that easily 60-70% of them will be university graduates. That is one of our young members.

So, that (travel agency business does not require expertise) is a fallacy. And that is part of the things we are trying to stamp out. We are in the process of setting up our training institute.

And we will partner with relevant government establishments and international establishments to make sure that we continue to drive that professional capacity development in our sector.

There’s a growing belief that Nigerians are avoiding US routes due to the stringent policies introduced by the American government. Do you share this view?

I knew you were going to come there. Anytime any pressmen want to see you, they must talk about visas or must talk about America. You see, I always try to make one thing clear. You see, visa issues and visa policies are government issues. So, it is a policy of the government. And it is a diplomatic thing. That’s why, a lot of times, in the diplomatic circle, you talk about reciprocity. So, the first thing we need to understand is that it is a government thing. And there is little or nothing you can do to press that government about their immigration policies. If they become more restricted, if access to their visa becomes more restricted, it will definitely shift the pattern of travel.

Because I can easily tell you, though we don’t have the data and statistics, and I don’t like to speak to data and statistics that I don’t have. But I’m very certain that the number of visits to the U.S., because of that visa restriction and policy access, would have been affected, and the numbers would have been reduced. Personally, it stopped me, it affected me, and it stopped me from renewal. Because I’m thinking that, because of my schedule, you can imagine how long we’ve been trying to schedule this interview, because I’ve not been in control of my schedule for maybe like two months. So, if I get a renewal of three months, what will it get me? So, I might get a renewal of three months, and before I’m ready to go, the thing expires. So, it’s a policy. Every government is informed about why they go into, you know, their policy regimes. So, definitely, it will have affected travel. If the trend continues, traffic to somewhere else will continue.

And lastly, I want to talk about visa. In NATA, we are very strong on Africa for Africa. And Africa is beginning to open up for Africa now. For example, the last time I went to Kenya, it was like coming back home. I just gave him my passport, and there were no questions. There were absolutely no questions. Within 10 seconds, I was out. They just took my passport and gave it back to me.

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So, what I’m trying to say is that eventually the pattern of travel and traffic will go along the path of countries where people are welcome. That’s how it will go.

So, if this guy says that you are not welcome, go to where you are welcome. If you don’t welcome me into your house, and somebody else welcomes me into his house, I will gladly go to where I’m welcome. Because before I sit down, they will give me water to wash my hands and make food for me. That is how the vision will eventually go. And when we continue to open those paths, investments follow opportunities. When we see that there are more opportunities in Africa for African visitors, those routes too will open up.

You know, we are seeing some airlines coming into Nigeria, Tanzania Air, and all of that. Yes, albeit slowly. But the day or the time that Africa realises and completely starts to consume Africa, that Africa is consuming Africa, the opportunities for connectivity will open up, and investments will flow into them. So, let’s visit places where we are welcome. My own position now is that I will do more of African countries, because they are exciting and interesting places. And everywhere you go in Africa, Nigerians are welcome. Forget all these social media things. The social media things are not a reflection of their perception of us.

Because there is no African country that I have been to that they are not welcoming, either socially or professionally. They also want to hear us talk. And they are waiting on us.

Cross-border trading has increasingly dominated conversations in the industry, often described as a challenge to your profession. What steps has NANTA taken to address this, what results have you recorded, and how far along are you in this fight?

So, cross-border trading is a sin, and we keep saying it all the time for people who are willing to listen. It is a sin. It is a sin against a market that welcomes you. The way it operates is an agency sits in Nigeria. You are the customer of that agency that sits in Nigeria, and you want to go, say, to the UK, to London. Another agency, so this is a Nigerian agency, and it is a Nigerian customer. Another agency sits somewhere else in the world, maybe in Asia or in Congo. That agency has a better fare for your Lagos–London–Lagos tickets than the agency that sits in Nigeria. So, it is a deliberate suppression of the market. There are not two names to call it. It is a suppression of the market, and it is unnecessary. Okay, we can say, ‘Oh, is that not the problem of the airline and all of that?’ You know, the airlines have their pricing structures, but there are unethical practices. There are some unethical travel agency practices in there. So, you know, you have some global agencies. They are welcome everywhere. But what we are saying is that you shouldn’t use your global reach to suppress our market and undercut the market.

There is no point. You know, the world is becoming a global village. The world is a global village now. So, you are all welcome to practise. But practise and be ethical within your practice in our market. Why would you go and, because you are a global trader, why would you go and bring the fare that is available to you, right, in another station? You understand, we say they are a global practice. You bring the fare that is available to you in another market and come and take it to undercut our market. For what purpose does it serve? You want to get the share of our market? If you want to get the share of the market, then compete effectively. Compete ethically. Because what is happening is that those tickets that are sold unethically are not being recorded for this market. That is why Nigeria dropped to the third position on BSP. Nigeria used to be number one on BSP, a consistent number one. In the last one and a half years, Nigeria has been number three, a distant third behind Egypt. It is now South Africa, Egypt, and Nigeria. These are not things that will help the market to develop since the statistics do not count for us.

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And secondly, it devalues everything we have in Nigeria. Let us start with the customer who gets the cheaper ticket. You know why they can sell an undercut is because it is cheaper for them, right? Services for tickets like that are restricted, and eventually the customer pays more if the customer runs into any trouble with change, because services in terms of change become difficult.

Because that ticket was sold from another clime, maybe he is asleep when the customer needs to do something in the course of the travel… So, we have had many cases. We have had many cases where customers have run into trouble if they have had to change or if they are not sure. Because service to certain tickets is restricted. There are police cases that come up because most of the time, those kinds of tickets are heavily restricted. So, that is a disservice to the consumer.

Then let us now talk about the travel agents. We have 3,500 members of NANTA. Some of our members are closing their shops. So, there is an unemployment issue. There is a serious unemployment issue there.

Then let us go to the GDS companies; we all know that, particularly in the multinational organisations, it is all about your numbers. The GDS companies that are operating locally in Nigeria are losing numbers. And these GDS companies employ Nigerians. When they are losing numbers, what eventually happens? They start to lay off. And this problem we are talking about would eventually hit the airline staff who are working locally for the airline. Because if your load factor is high, you know 40 per cent of the sales are not from your market.

Why would I need somebody at your level? And at best, you start to operate with just movie officers. The load factor is high, but 40 per cent of that load factor is not from the market, you know. To show you that it’s an absolute sin and to show you that some airlines that are responsive are listening to us, some airlines have adjusted their pricing structure and pricing policies to give priority to the point of commencement. It’s called POC. That is the point where that travel commences. And since your travel commences from Lagos. So, when pricing, the pricing is defaulted to give priority to the point of commencement. So, the points of commencement will have the better price. Or at least there is no other market that will have a better price than the points of commencement. Some airlines have done that. Because that is a fair thing to do. Otherwise, that practice will completely erode our market. And this problem is a general problem in Africa now, because we have gone to a few conferences in Africa. And when we talk about it, they always recognise that they are also facing the same situation, particularly Zimbabwe that is so upset by it. And they say that it is killing their market. And that they know that most of the tickets that are issued in their country are issued by another country that is much smaller than them. And that person from that smaller country is bigger on BSP. It’s a big, big problem in many countries. So, what we have now been doing is that we have been exchanging ideas. Sometimes, you know, we have meetings with associations of some countries. We have meetings.

In an African country, in a French West African country, there are five major unethical players. Major unethical travel agency global players that are under investigation for tax evasion and fraud. And we understand that their licences have been suspended, at least as far back as I know. It’s a suppression of the market that is unnecessary. Why would we allow our market to be suppressed? That is why we keep talking about it. Now, what achievements have we made so far? Look, if you listen very well, you’ll find that this government is responsive. This government listens. I know I initially made some comments about the Minister of Aviation. One thing you can’t take away from him is that he listens. He responds, and he always shows up when he’s available.

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FG tells marketers to reflect global oil price drop in petrol prices

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Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, has directed petroleum marketers to immediately reflect the recent decline in global oil prices by reducing the pump prices of Premium Motor Spirit (PMS) and other petroleum products.

Lokpobiri gave the directive at the 2026 Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) General Counsel and Legal Advisers Forum on Monday in Abuja.

The forum is themed “Beyond Compliance Certainty and Investment Confidence in Nigeria’s Petroleum Sector.”

Lokpobiri said that with the de-escalation of tensions between Iran and the United States, there was an expectation that the prices of PMS and other petroleum products would be adjusted downward accordingly.

He expressed concern that the anticipated reduction had yet to be reflected at the pumps, stressing that while market forces under the deregulated regime would ultimately restore price equilibrium, marketers should not exploit the situation to make excessive profits.

The minister said the regulator had a statutory responsibility to ensure that deregulation did not become an avenue for profiteering, adding that this must be carried out in line with the provisions of the Petroleum Industry Act (PIA 2021).

“For too long, the dominant question in our regulatory conversations has been: are operators complying? That question matters. It will always matter. But it is no longer sufficient.

“The more consequential question today is this: are our regulatory authorities doing their job? Is it clear, consistent and predictable enough to give investors the confidence they need to commit capital, not just for one cycle, but for the long term?

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“Compliance is the foundation. Regulatory certainty is the ceiling we must now be building toward,” he said.

Lokpobiri, while urging marketers to comply with the principles of fair pricing to ensure that consumers benefit from the prevailing market realities, urged regulators to move beyond compliance by promoting regulatory certainty to attracting long-term investments.

“The sector is now fully deregulated, a bold reform that President Bola Tinubu had the courage to implement. That decision paved way for the operationalisation of the Dangote Refinery and other refinery projects currently underway.

“It also ensured that artificial scarcity has become a thing of the past.

“You can attest to the fact that since 2023 there has been availability of products in country even with the recent challenges posed by the US-Israeli /Iranian conflict.

“Beyond allowing prices to be determined by market forces, the question is: what is the regulator doing to ensure that consumers receive the correct quantity of product?

“When someone pays for 10 litres of PMS, they should receive exactly 10 litres, not less,” he warned.

Lokpobiri said while compliance with regulations remained fundamental, investors were increasingly interested in jurisdictions with clear, consistent and predictable regulatory frameworks.

He described general counsel as strategic partners whose responsibilities extend beyond interpreting laws to shaping investment decisions, improving regulatory design and supporting national development.

According to him, legal advisers should provide constructive feedback whenever regulations or guidelines create uncertainty that could discourage investment.

He said Nigeria’s petroleum sector was entering a new phase characterised by expanding domestic refining capacity, increased private sector participation and emerging opportunities across the midstream and downstream segments.

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According to him, attracting investments will require policy consistency, transparent regulation, efficient dispute resolution and strong collaboration among government, regulators, industry operators and legal practitioners.

He expressed confidence that the recommendations from the forum would contribute to improving governance, regulatory certainty and investment confidence in Nigeria’s petroleum sector. (NAN)

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Olodo uprising: Tinubu aide faults critics of First Lady’s Akara, Kuli kuli comment

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The Special Assistant to President Bola Tinubu on Social Media, Dada Olusegun, has defended First Lady Oluremi Tinubu’s recent empowerment of micro-traders, saying criticisms of the initiative are driven by ignorance of her record and the role of Nigeria’s informal economy.

In a statement shared on Monday, Olusegun described the backlash over the First Lady’s focus on traders such as akara and kulikuli sellers as a “performative circus of selective amnesia.”

He argued that critics had ignored the numerous interventions carried out by the Renewed Hope Initiative across healthcare, women’s empowerment, support for military widows and persons living with disabilities.

The First Lady, Senator Oluremi Tinubu
The First Lady of Nigeria, Senator Oluremi Tinubu

According to him, the First Lady’s interventions extend beyond petty traders, citing her donation of ₦1bn to the National Cancer Fund for cervical cancer screening and another ₦1bn for tuberculosis diagnostic equipment in Abuja in 2025.

He also referenced the disbursement of ₦250,000 each to 1,709 widows and orphans of fallen military personnel in 2023, as well as ₦200,000 business grants to persons living with disabilities across the 36 states and the Federal Capital Territory.

Olusegun further highlighted the Renewed Hope Initiative’s partnership with the Tony Elumelu Foundation, which targeted 18,500 women nationwide with ₦50,000 grants and the distribution of equipment, including industrial grinding machines, freezers and generators.

He further criticised what he described as an “Olodo uprising” on social media, accusing critics of reacting to trends without researching the facts.

“This entire controversy perfectly mirrors what is now happening with the broader ‘Olodo uprising” across our social platforms. We live in an era where people jump on trending hashtags and soundbites without dedicating a single minute to researching context. Memes are manufactured in seconds; accurate history takes time to read.

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“When the critics are done making their superficial memes, writing cynical captions, and circulating ignorant narratives, the reality on the ground will remain unchanged. They would be better off advising their constituents to find credible means to key into these ongoing government initiatives,” he stated.

He maintained that empowering small-scale traders should not be viewed as “weaponising poverty.”

“According to various economic metrics, the informal sector contributes over 50 per cent of Nigeria’s GDP and accounts for over 80 per cent of employment. The akara fryer, the kulikuli processor, and the petty trader are not just marginal actors; they are the literal shock absorbers of our micro-economy.

“When you give a micro-grant or operational tools to an akara seller, you are not validating poverty; you are reducing immediate operational capital friction, securing food chains at the grassroots, and expanding household income. Mocking these initiatives as ‘petty’ shows a deep-seated contempt for the actual working class of Nigeria,” he said.

Olusegun also defended the political value of grassroots empowerment, saying such interventions create trust among beneficiaries.

He cited the TraderMoni and MarketMoni programmes introduced during former President Muhammadu Buhari’s administration under then Vice President Yemi Osinbajo as examples of initiatives that directly impacted market traders.

“The opposition often wonders why the poorest segments of the population continually familiarise themselves with the All Progressives Congress during elections. The answer is simple: the party meets them at their point of immediate need,” he said.

Olusegun added that Tinubu’s record as former First Lady of Lagos State, a three-term senator and now First Lady of the Federation showed a consistent commitment to structured empowerment programmes.

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“She will not be distracted by digital static from doing what she has mastered over decades: empowering the poorest among us, one structured intervention at a time,” he said.

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Dangote refinery imports first UAE crude cargoes

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The Dangote Refinery has purchased two cargoes of crude oil from the United Arab Emirates, marking its first-ever procurement of Middle Eastern crude as it expands its feedstock sources amid persistent domestic supply constraints.

According to a report by S&P Global Commodity Insights, the two cargoes will be the first sourced by the 700,000-barrels-per-day refinery from any Middle Eastern supplier, signalling a shift from its traditional reliance on Nigerian, African, and United States crude grades.

The report said the purchases followed the resumption of oil exports from the Middle East after the United States and Iran reached an interim peace agreement that restored confidence in shipping through the Strait of Hormuz.

The refinery, designed primarily to process Nigeria’s light sweet crude, has increasingly diversified its crude slate as operations ramp up. S&P Global reported that an agreement between the refinery and the Nigerian National Petroleum Company had guaranteed the supply of between 13 and 15 cargoes of Nigerian crude monthly in naira, helping the refinery reduce its foreign exchange exposure.

However, the arrangement has faced challenges due to inadequate crude availability and operational issues at export terminals. According to the report, Dangote Refinery Chief Executive Officer David Bird had previously disclosed that these constraints had compelled the company to seek additional crude sources outside Nigeria.

The report added that the refinery’s expansion plans would further increase its crude requirements. Dangote plans to double the refinery’s processing capacity to 1.4 million barrels per day by the end of 2028, a level that would enable it to process about 80 per cent of Nigeria’s recent crude oil production in a single day.

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Speaking earlier this year, Bird said the refinery intended to increase the share of heavier crude grades in its feedstock mix. “We definitely want to heavy up the barrel,” Bird said in April.

He added, “We will be in the crude blending game. So you can easily imagine at 1.4 million b/d we could process 30 per cent Middle Eastern grades on each train.”

According to S&P Global, the refinery has been broadening the range of crude grades it processes as part of its ambition to operate as a fully merchant refinery. The report noted that in 2025, about 70 per cent of the refinery’s crude imports came from Nigeria, while 24 per cent originated from the United States.

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