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Federal Government Moves to Slash Sky-High Airfares as Minister Keyamo Exposes Airline Tactics

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Federal Government Moves to Slash Sky-High Airfares as Minister Keyamo Exposes Airline Tactics

Federal Government Moves to Slash Sky-High Airfares as Minister Keyamo Exposes Airline Tactics

The Federal Government, through the Minister of Aviation and Aerospace Development, Festus Keyamo, has vowed to tackle the exorbitant cost of air tickets for both domestic and international flights, revealing major efforts to cut costs, enhance airport safety, and address airline pricing manipulations.

Speaking at the Ministerial Press Briefing in Abuja on Thursday, Keyamo exposed a series of economic and policy-based factors that have led to the skyrocketing price of flight tickets, making air travel increasingly unaffordable for Nigerians.

Federal Government Moves to Slash Sky-High Airfares as Minister Keyamo Exposes Airline Tactics

Why Are Airfares So Expensive? The Inside Story

Keyamo broke down the root causes of excessive ticket pricing, which include:
🔹 Limited access to affordable aircraft leasing, forcing Nigerian airlines to either lease aircraft at exorbitant rates or buy aircraft outright—a cost that ultimately burdens passengers.
🔹 Foreign airlines deliberately inflating ticket prices for Nigerian travelers due to fears of trapped funds and currency depreciation.
🔹 Heavy government-imposed airport taxes, which are among the highest in Africa, further pushing up fares.

Foreign Airlines Caught in the Act? Keyamo Exposes Pricing Tricks

In a shocking revelation, Keyamo unveiled how foreign airlines had been exploiting Nigerian travelers by restricting them to only the highest-priced tickets.

“We called international airlines and asked what they used to do. They said if you want to buy international tickets, you will see business class Z, grade J, different grades, but it’s all the same. One can be N2 million cheaper than the other. Those ones, they opened for countries where they could get their money immediately. But they now opened only the high fare for Nigerian passengers,” he disclosed.

He explained that because foreign airlines feared currency depreciation, they set high fares in anticipation of inflation affecting their trapped funds.

“They said because they were taking into account inflationary rates of the money that will be trapped, they didn’t know when they would get it back. So instead of selling a ticket for N2 million or N3 million, they sold it for N7 million. Meanwhile, Ghana had lower ticket prices,” he added.

Government’s Response: No More Exploitation!

The government, according to Keyamo, is actively engaging foreign airlines to adjust their pricing in line with the recently cleared backlog of trapped funds.

“President Bola Tinubu, being very smart on this, cleared that first. But even after clearing the backlog, they were still enjoying the high fares. So we told them, ‘No, you cannot continue to do this. The excuse is gone. Nigerian passengers must now get fair pricing like other countries.’”

The Nigerian Civil Aviation Authority (NCAA) is leading discussions with these airlines to force a price adjustment, ensuring that Nigerians no longer face inflated airfares.

Airport Taxes: Another Major Culprit

Keyamo acknowledged that Nigeria’s airport taxes are among the highest in Africa, further worsening ticket prices. However, he emphasized that reducing these taxes is not solely within his power, as it requires collaboration with the Ministry of Finance.

“The Nigerian Airspace Management Authority and the Federal Airports Authority of Nigeria are reviewing these charges, but I cannot singlehandedly reduce them. It involves the Minister of Finance,” he clarified.

He stressed that airlines pass these high taxes directly to passengers, further inflating ticket costs.

What Lies Ahead? Promises of Cheaper Flights Soon

Keyamo assured Nigerians that with ongoing government interventions—including negotiations with foreign airlines, new aircraft leasing agreements, and possible tax reductions—airfares will soon become more affordable.

“We are addressing these issues. The results will soon be visible with the Cape Town Convention and the Dublin Conference. The deals are coming in, and we will see the results soon,” he promised.

Final Verdict: Relief in Sight or Another Empty Promise?

While the Federal Government’s efforts signal hope for Nigerian travelers, many remain skeptical about whether these promises will translate into real, affordable ticket prices. Will Keyamo’s intervention finally ground the exploitative pricing system, or will passengers continue to pay the price for policy failures? Nigerians are watching closely.

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PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

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PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

 

To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.

 

UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.

 

In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.

 

Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.

PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.

 

Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.

 

Thank you.

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Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

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Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

 

 

 

Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”

 

Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.

 

The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.

 

This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.

 

Speaking on the collaboration, the Laffmattazz team stated:

 

“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”

 

As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.

 

With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.

 

 

About Laffmattazz

 

Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.

 

About First Bank of Nigeria Limited

 

First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.

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MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria

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FirstBank Set to Launch Tailored Financial Services for Blind and Physically Challenged Customers  

MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria

 

 

 

Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.

 

 

 

Now, FirstBank is making homeownership more attractive.

 

 

 

FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.

 

The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.

 

 

 

You are one quick decision away from being a landlord.

 

 

 

If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.

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