• Emirates, Etihad to resume flight operations as UAE lifts visa ban on Nigeria• Stakeholders demand sustainable solution, win-win relationsTinubu’s diplomatic parley with the UAE leader, Mohamed bin Zayed Al Nahyan, in Abu Dhabi on Monday, also came with the immediate return of suspended flight operations on the Nigerian route.
Ngelale said by this historic agreement, “both Etihad Airlines and Emirates Airlines are to immediately resume flight schedules into and out of Nigeria, without any further delay.” An official statement by the UAE Embassy yesterday, acknowledged talks on opportunities for further bilateral collaboration in areas that serve both countries’ sustainable economic growth, including the economic, development, energy, and climate action fields. It however kept mum on the travel and flight operations between the two countries.
Though an intervention by CBN led to a pledge to release $265 million in August, leaving a balance of $200 million, the situation has remained the same. He said: “Does he understand the problem on ground? I don’t think so. Maybe he has dollars on the side to give them. But is he going to do so with other airlines or treat Emirates differently? He should not treat them in isolation because there are other airlines like British Airways, Lufthansa, Ethiopia Airlines that are also owed.
Perhaps, another option on the FX liquidity programme between the two countries is the Gulf country considering buying off the country’s dead assets located across the country, which some financial experts had long advised the government to turn into cash. Qatar followed the path of the UAE with an announcement to place another $5 billion different investment in its renewed partnership with Egypt, in a statement issued by the Egyptian government. To implement the agreement, the parties opted for a joint committee led by their foreign ministers.
UAE has the second largest sovereign wealth fund , behind China. Its fund, which is managed by the Abu Dhabi Developmental Holding Company, Abu Dhabi Investment Authority, Dubai World, Emirates Investment Authority, the Investment Corporation of Dubai among others, is estimated at $1.9 trillion.