The Managing Director, Finchglow Travels Limited, Ezekiel Ikotu, has hinted that the ability of Nigerian travel agents to compete globally, is been threatened by foreign exchange pressures.
He stated this at the PartnerPlus Connect (PPC) event in Abuja, where industry stakeholders discussed emerging challenges and opportunities in Nigeria’s travel and tourism sector.
Ikotu lamented that travel agents in Nigeria face significant challenges, including staffing shortages, knowledge gaps, particularly in digital know-how, and limited access to funds.
Speaking on the sidelines of the event emphasised that many agents lack International Air Transport Association (IATA) accreditation, which restricts their access to critical industry information.
He explained that the foreign exchange restrictions and policy instability have created inconsistencies in airline pricing and settlement systems.
Ikotu added that Finchglow has adopted strategies to mitigate the impact, including leveraging corporate clients who pay in dollars and negotiating dual-currency settlements with airlines.
He stated: “As a consolidator, our goal is to educate our customers, equip them with the right knowledge, and make them global players.
“PartnerPlus Connect aims to bridge the knowledge gap and empower travel professionals with timely industry information, technology insights, and global best practices.
“The margins in the travel business are very thin. Airlines are protecting themselves against instability and uncertainty,” Ikotun said, adding that fare volatility is driven by broader policy and foreign exchange uncertainties.
“To support agents, Finchglow provides monthly engagement forums, weekly industry newsletters, and online training sessions. The company has hosted three PartnerPlus Connect events this year and plans to expand to more locations.
“Finchglow is also engaged with industry bodies, including the National Association of Nigeria Travel Agencies (NANTA) and IATA, to advocate for fair policies and improved operating conditions.”
Ikotu commended recent efforts by the Minister of Aviation to stabilize the sector but noted that achieving fairness and consistency remains a work in progress.
Also, the Manager, B2B at Finchglow Travels Limited, Abiola Bakare, emphasised the need for sustained government engagement to address regulatory inconsistencies and promote local capacity, such as Maintenance, Repair and Overhaul (MRO) facilities, to reduce capital flight.
“Initiatives like PartnerPlus Connect are crucial to ensuring Nigerian travel agents can compete effectively in the global travel ecosystem,” Bakare said.