What £2000 Can Afford You Is Like N2000 – Air Peace Boss Onyema

In a Wednesday interview, Onyema addressed the value of Nigerians having confidence in their national currency with TVC News.

He said, “I support what Mr. Cardoso (Central Bank Governor, Yemi Cardoso) said. Mr. Cardoso once said that the whole thing is artificial and that the naira has more value than it’s been projected and I believe him. 

“Go to London, if you earn £2000 a month in London, you are a pauper because what the £2000 can afford you is like N2000 because a Nigerian will sit down here and calculate 2000 to a pound and think he can have like N4million.

“The person earning N200,000 in Nigeria is better. You can have a maid, you can have a driver.

“What I am trying to say is, we should stop stigmatising our country, we must love our country, we must fight for it and must support private investments.”

Onyema went on to put forward that government intervention was needed to make it more practical for airlines to have free access to dollars.

He continued, “We need government support for Nigerian airlines. Everything about aviation is dollars. If you don’t have access to dollars, you cannot move forward. Remember, these airlines were competing with abroad, they access loans in their countries at 3 percent. In Nigeria, I am getting my loan at 30 percent.

“At the same time, the Nigerian airline is dead on arrival when it comes to insurance. They stigmatise my country because insurance is done abroad. So what we use to ensure one aircraft is what those bigger airlines all over the world will use to ensure about eight aircraft.

“Another way of supporting the airlines is the removal of the city hopping we’re doing in this country. We’re putting a strain on the naira. President Tinubu knows that the multi-city hopping of foreign airlines into his country is creating problems for him.

“The president should call for immediate review of these bilateral air services agreements (BASA). It is not even supposed to be a part of BASA. Countries don’t do it.

“In my country, they do city hopping and at the end of the day, these foreign airlines amass a lot of money and put strain on the dollar and the naira and they start blackmailing the country.”