The Nigerian travel industry is bracing for significant disruptions and financial losses of about N15 billion as youth-led protests loom, according to Bayo Adedeji, Group CEO (GCEO) of Wakanow.
Speaking on Channels TV on Wednesday, Adedeji warned that the protest could lead to airline cancellations and economic turmaoil, potentially costing the industry up to ₦15 billion in lost transactions in a single day.
He highlighted the challenges posed by rising costs, including a proposed 800% hike in aircraft navigation fees by the Nigerian Airspace Management Agency, which was recently put on hold.
Read also: All you need know about August 1 protest
Adedeji also noted a 35 percent decline in passenger numbers compared to last year, driven by economic hardship and increased airfares, with London-Lagos tickets rising by 103 percent.
The GCEO emphasised the resilience of Nigerian travellers, who are increasingly turning to local destinations and flexible payment options like Wakanow’s “Pay Small Small” plan to manage costs.
He said the planned protest, scheduled for today, adds another layer of uncertainty to an already strained industry, reflecting broader economic challenges facing the country.
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