British Airways at 90 as FG moves to resolve forex liabilities and unlock stronger trade, investment links….
President Bola Tinubu has declared that the resolution of long-standing financial obligations to foreign airlines marks a decisive shift in Nigeria’s aviation and economic relationship with the United Kingdom.
The President made this known during a meeting with a delegation from British Airways, as the airline commemorates 90 years of operations in Nigeria, one of its longest-standing international routes.
In a statement issued by his spokesperson, Bayo Onanuga, Tinubu said his administration has moved to eliminate the financial bottlenecks that previously strained ties between Nigeria and international carriers.
Central to that effort is the clearing of outstanding foreign exchange liabilities by the Central Bank of Nigeria, a development the President described as critical to restoring confidence and strengthening partnerships.
“Since assuming office, we have focused on resolving the liabilities and challenges that hinder our relationships with global airlines,” Tinubu said, adding that the progress made so far is laying the foundation for deeper collaboration.
He linked the move to a broader reform agenda aimed at repositioning Nigeria’s aviation industry to meet global standards, improve connectivity, and attract investment into the sector.
Beyond aviation, the President pointed to growing economic ties between Nigeria and the UK, noting that bilateral trade between both countries has reached a record £8.1 billion. Nigeria also remains the UK’s largest export destination in Africa, underlining the strategic importance of the relationship.
Recent engagements have further strengthened cooperation. During Tinubu’s state visit to the UK, Nigeria secured a £746 million financing agreement aimed at upgrading critical infrastructure, including the Apapa and Tin Can Island ports in Lagos, facilities that handle the majority of the country’s trade flows.
Officials from both sides say these developments reflect a shift from diplomatic engagement to tangible economic outcomes. British High Commissioner Richard Montgomery praised the progress made, noting that recent discussions have translated into real investment commitments.
The talks also reinforced collaboration within the Commonwealth framework, with both countries expressing interest in expanding cooperation across sectors ranging from aviation to infrastructure and trade.
The renewed momentum comes alongside increased business engagement. The UK recently concluded its first major trade and investment mission to Nigeria since the President’s visit, bringing together dozens of companies seeking opportunities in key sectors of the economy.
For Nigeria, the message is clear: resolving legacy financial issues is not just about settling debts, it is about rebuilding trust, restoring credibility, and creating the conditions for long-term growth.
As British Airways marks nearly a century of operations in the country, both nations appear to be entering a new phase of partnership one defined less by constraints and more by opportunity.
