President Bola Ahmed Tinubu has stated that the resolution of outstanding financial obligations to international airlines by the Central Bank of Nigeria marks a significant step toward strengthening Nigeria’s aviation and economic ties with the United Kingdom, particularly with British Airways.
This was disclosed in a statement issued by presidential spokesperson Bayo Onanuga following a meeting between the President and a delegation from British Airways, as the airline commemorates 90 years of operations in Nigeria.
Speaking during the meeting, President Tinubu emphasized that addressing financial bottlenecks affecting foreign airlines has been a key priority of his administration. He noted that the settlement of outstanding liabilities is critical to restoring confidence and strengthening Nigeria’s relationships with international aviation partners.
According to the President, the efforts of the Central Bank of Nigeria in clearing these obligations are part of broader economic reforms aimed at improving the business environment and enhancing global partnerships. He added that ongoing reforms in the aviation sector are designed to align Nigeria with international standards, thereby boosting trade, investment, and connectivity.
Tinubu further highlighted the importance of strong aviation links in promoting economic exchange and people-to-people relations, noting that British Airways’ long-standing presence in Nigeria reflects a durable partnership that should continue to evolve.
The development comes amid expanding economic cooperation between Nigeria and the United Kingdom. Bilateral trade between both countries has reportedly reached £8.1 billion, with Nigeria remaining the UK’s largest export market in Africa. During a recent state visit, Nigeria also secured a £746 million financing agreement from the UK to support infrastructure upgrades, including improvements to Apapa and Tin Can Island ports in Lagos.
Officials from both sides reaffirmed their commitment to deepening collaboration across aviation and broader economic sectors. British High Commissioner Richard Montgomery commended the outcomes of recent engagements, noting that they have translated into tangible investment opportunities.
The meeting also underscored ongoing UK-backed financing for port rehabilitation projects and broader cooperation under the Commonwealth framework. Both countries expressed readiness to strengthen long-term economic ties through sustained partnerships.
Recent initiatives, including a UK trade and investment mission involving dozens of British companies, reflect efforts to convert high-level agreements into concrete economic outcomes. These developments signal a continued push to deepen trade, investment, and sectoral collaboration between Nigeria and the United Kingdom.
