The Chairman and Chief Executive Officer of Air Peace, Allen Onyema, has expressed concern over Nigeria’s new tax laws, warning of their potential impact on the domestic aviation industry.
Onyema cautioned that if the tax reforms are implemented from January 1, 2025, without adequate review, they could cripple local airlines. He issued the warning during a recent interview.
He said; “People talk as if airlines are making a killing. It’s not true.”
“With 7.5 per cent on ticket fares, ticket fares will hit N1.7 million soon. If we implement that tax reform, Nigerian airlines will go down in three months. At the end of the day, economy class tickets will go for about N1.7 million if it happens.”
His comments come amid growing public outrage over the rising cost of domestic air travel in Nigeria.