In a dramatic turn of events, domestic air ticket prices in Nigeria have skyrocketed by more than 100% due to the prevailing foreign exchange challenges and the exorbitant cost of maintenance.
Northeast Star’s comprehensive investigation has revealed that previously affordable tickets ranging between ₦60,000 and ₦70,000 have now surged to as high as ₦100,000 to ₦250,000 for a one-hour flight, depending on the specific route. At present, a ticket from Maiduguri to Abuja is priced at a staggering ₦195,000 for economy class.
Speaking on the condition of anonymity, an industry insider disclosed that domestic air operators have been subsidizing flights for Nigerian passengers in an effort to sustain air travel. However, the increasing expenses have forced them to revise their pricing strategies, resulting in the current surge in ticket costs.
It is worth noting that airfares in Nigeria have consistently been on the rise, particularly when compared to neighboring countries where flights to international destinations remain relatively affordable. The National Bureau for Statistics (NBS) has reported a 40% spike in airfares between June 2022 and June 2023, and experts predict another increase as the festive season approaches.
Simultaneously, aircraft maintenance costs have surged to a staggering $2 billion per year, and aviation experts are already forecasting that this figure could reach $3 billion by 2024. This surge in maintenance expenses is primarily driven by the need for airline operators to expand their fleets to comply with the policies set forth by the Nigeria Civil Aviation Authority (NCAA).
