A few domestic airlines have increased airfares to the South-South and South-East regions of Nigeria by over 100 per cent, as some one-way tickets from December 18, 2024, sell for about N287,000.

Usually during the yuletide rush, airfares are mostly raised due to the high demand for tickets. But this season, passengers say prices of air tickets are out of reach following various economic challenges.

Checks by The PUNCH on different airlines’ websites showed that airfares, particularly to the South-South and South-East regions have increased by over 100 per cent compared to what the prices were before the yuletide.

The airfare from Abuja to Asaba on Air Peace moved from N95,400 on December 5, to N285,800 by December 16.

Lagos to Benin in Edo State stayed at N95,000 throughout the yuletide, while Abuja to Benin moved from N95,000 to N285,800 by December 16.

The airline plans to sell the Lagos-Calabar ticket for N162,000 by December 15 and raise the same to N181,000 by December 22. Abuja to the same state cost N114,400 by December 6 but will be sold for N162,000 by December 23.

Flying to Uyo from Lagos on Air Peace was about N145,000 on December 8, but will be increased to N202,100 by the 15th of the same month. From Abuja to the same state cost N162,000 on December 8, but will sell for N238,000 by December 22.

Flight tickets from Lagos to Port Harcourt or Abuja to Port Harcourt cost N95,400 as of December 5 but increased to N285,800 from December 19.

On the South-East routes, air tickets for Lagos – Anambra on Air Peace was N114,400 as of December 6. This increased to N381,100 by December 17. Air Peace also scheduled Abuja – Anambra for N95,000 as of December 5 but raised it to N285,800 by December 23.

For Enugu, a flight ticket to the state from Lagos was sold for N95,000 as of December 5 but increased to N285,800 from December 19. Although the price increased to N381,100 on the 20th, it was returned to N285,800 from 21st to 29th December.

The same amount applied to inbound Enugu flights from Abuja as of the 5th but according to the airline’s website, the fare will rise to N285,800 between the 21st – 29th of the same month.

Going to Owerri, the Imo state capital, from Lagos, started at N95,400 on the 5th of December but will increase to N381,000 by the 29th of December. Abuja to Owerri also started at N95,000 but turned to N285,000 from the 17th to the 30th of the month.

Whereas, for Ibom Air, a one-way economy ticket from Lagos to Uyo between the 16th and 17th of December will cost N152,700.

A one-way economy ticket from Lagos to Port Harcourt on Valuejet between the 18th, 19th, and 20th of December will also be sold for N164,761.

However, while airlines are increasing their fares, the Managing Director of Nigeria’s oldest aviation company, Aero Contractors, Ado Sanus, announced the slashing of its fares to an average of N80,000 for local flights recently.

According to Sanusi, at a press conference, the reduction was the company’s way of appreciating Nigeria’s flying passengers during the country’s challenging time, which also coincided with the yuletide.

The airline said the reduction will be applied to all its destinations, including Abuja, Asaba, Benin City, Calabar, Kaduna, Kano, Enugu, Lagos, Owerri, Port Harcourt, Uyo and Sokoto.

The Aero Contractors MD added that despite the ticket fare reduction to an average of N80,000, the airline will still make a moderate profit.

Festus Keyamo, minister of aviation and aerospace development, says his ministry will help domestic airlines access aircraft at cheaper rates to reduce ticket prices.

Keyamo spoke on Arise News’ ‘This Morning’ programme on Sunday.

On December 1, the Federal Competition and Consumer Protection Commission (FCCPC) announced it would investigate complaints of exploitative practices in the aviation sector.

According to the FCCPC, Air Peace Limited, a Nigerian airline, is being investigated over allegations of exploitative ticket pricing, including significant price increases for advance bookings on certain domestic routes.

Air Peace described the allegations of exploitative fares as both damaging and unfair.

Commenting on the development, Keyamo said the exchange rate impacts every aspect of aviation, including basic maintenance such as changing a tyre bolt, hence the high ticket prices.

“What we are therefore doing is to ensure that we expose them to the market across the world where they can assess aircraft on very good terms. This will impact on the prices of tickets and their cost of operation,” he said.

“That is what led us to address the issue of the practice direction pursuant to the Cape Town Convention, that is the core of the problem of the aviation industry that this president and the vice president graciously supported us to get to.”

On September 12, the federal government signed the Cape Town Convention (CTC) practice direction to help domestic airline operators access aircraft on dry lease.

Keyamo added that Nigeria will attend a major global aircraft meeting in January to address more aviation challenges.

“In January, all the airlines in Nigeria, all insurance companies including the National Insurance Commission and the National Assembly leadership on insurance and aviation are all going to Dublin between the 12th and the 18th,” he said.

“I’m leading the delegation, all the major aircraft financiers, and leasers are all gathered there and for the first time they have invited Nigeria.

“They invited us because efforts we have made to make them assess these markets around the world has increased our compliance score from 49 percent to 75.5 percent, for the first time in the history of Nigeria, all credit to the policies of President Bola Ahmed Tinubu.”

Oando Energy Resources Nigeria Limited (OERNL) says it has increased production output by about 50 percent since its acquisition of the Nigerian Agip Oil Company (NAOC).

According to a statement on Sunday, Ainojie Irune, managing director of OERNL, spoke during a high-level meeting with the Nigerian National Petroleum Company (NNPC) Limited, at the national oil firm’s towers in Abuja.

The statement said the meeting was led by Mele Kyari, the group chief executive officer of NNPC, and Irune.

Irune expressed gratitude for NNPC’s support, providing updates on the developments since Oando’s acquisition in August.

“Just by way of an update, in less than 100 days, since acquisition, we have been able to increase our production outputs by almost 50%. This could not have been achieved without your support,” he said.

“We’ve been able to improve the integration of both legacy companies, again led by not just Oando, but NNPC, bringing the JV that used to exist in three parts into two, seamlessly.”

Irune further emphasised the company’s commitment to increasing production and improving operational efficiency, adding that “we are excited about the future of this partnership”.

“With the support of NNPC, we aim to increase production to over 100,000 barrels of oil per day and 1.3-1.4 billion cubic feet of gas per day within the next three years,” Irune added.

He said the challenges the company has seen are not insurmountable.

“Rather, with the commitment and collaboration of all parties, we will overcome the current adversity to build a sustainable industry and economy,” the OERNL MD said.

Speaking at the meeting, Kyari congratulated Oando on its acquisition of NAOC.

“We believe that taking over the interests from Eni in this joint venture is a positive development for our industry and country. It signifies indigenous companies’ ability to play a bigger role in big assets and align with the national aspiration in the energy industry,” he said.

“We see this development as a massive step on the path to realising that national goal. We will work with Oando intently to ensure that we do two things, as you have highlighted: increase oil production and also increase gas production.

“We believe that you will be able to steer this ship to the delivery line in the short term and the long term.”