Protest: Wakanow CEO projects N15bn daily loss to flight cancellation

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.

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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.

Ifeoma Okeke-Korieocha

Ifeoma Okeke-Korieocha is the Aviation Correspondent at BusinessDay Media Limited, publishers of BusinessDay Newspapers. She is also the Deputy Editor, BusinessDay Weekender Magazine, the Saturday Weekend edition of BusinessDay. She holds a BSC in Mass Communication from the prestigious University of Nigeria, Nsukka and a Masters degree in Marketing at the University of Lagos. As the lead writer on the aviation desk, Ifeoma is responsible and in charge of the three weekly aviation and travel pages in BusinessDay and BDSunday. She also overseas and edits all pages of BusinessDay Saturday Weekender. She has written various investigative, features and news stories in aviation and business related issues and has been severally nominated for award in the category of Aviation Writer of the Year by the Nigeria Media Nite-Out awards; one of the Nigeria’s most prestigious media awards ceremonies. Ifeoma is a one-time winner of the prestigious Nigeria Media Merit Award under the 'Aviation Writer of the Year' Category. She is the 2025 Eloy Award winner under the Print Media Journalist category. She has undergone several journalism trainings by various prestigious organisations. Ifeoma is also a fellow of the Female Reporters Leadership Fellowship of the Wole Soyinka Centre for Investigative Journalism.