FX Pressure Threatens Nigeria Travel Agents’ Ability To Compete Globally, Says Ikotun 

Kasim Sumaina in Abuja

The Managing Director, Finchglow Travels Limited, Ezekiel Ikotun, has stated that the ability of Nigerian travel agents to compete globally is threatened by foreign exchange pressures.

The company’s Managing Director stated this at the PartnerPlus Connect (PPC) event in Abuja, where industry stakeholders discussed emerging challenges and opportunities in Nigeria’s travel and tourism sector.

He lamented that travel agents in Nigeria face significant challenges, including staffing shortages, knowledge gaps, particularly in digital know-how, and limited access to funds.

Ikotun, speaking on the sidelines of the event, emphasised that many agents lack International Air Transport Association (IATA) accreditation, which restricts their access to critical industry information.

He explained that the foreign exchange restrictions and policy instability have created inconsistencies in airline pricing and settlement systems.

He further added that Finchglow has adopted strategies to mitigate the impact, including leveraging corporate clients who pay in dollars and negotiating dual-currency settlements with airlines.

According to him, “As a consolidator, our goal is to educate our customers, equip them with the right knowledge, and make them global players.

“PartnerPlus Connect aims to bridge the knowledge gap and empower travel professionals with timely industry information, technology insights and global best practices.

“The margins in the travel business are very thin. Airlines are protecting themselves against instability and uncertainty.”

Ikotun added that fare volatility is driven by broader policy and foreign exchange uncertainties.

“To support agents, Finchglow provides monthly engagement forums, weekly industry newsletters, and online training sessions. The company has hosted three PartnerPlus Connect events this year and plans to expand to more locations.

“Finchglow is also engaged with industry bodies, including the National Association of Nigeria Travel Agencies (NANTA) and IATA, to advocate for fair policies and improved operating conditions,” he said.

Ikotun commended recent efforts by the Minister of Aviation to stabilize the sector but noted that achieving fairness and consistency remain a work in progress.

Also speaking, the Manager, B2B at Finchglow Travels Limited, Abiola Bakare,  emphasized the need for sustained government engagement to address regulatory inconsistencies and promote local capacity, such as Maintenance, Repair and Overhaul (MRO) facilities, to reduce capital flight.

“Initiatives like PartnerPlus Connect are crucial to ensuring Nigerian travel agents can compete effectively in the global travel ecosystem,” Bakare said.