The Group Managing Director of Finchglow Holdings, Bernard Bankole, says the surge in airfares nationwide is being driven largely by multiple charges imposed by government and regulatory agencies, not airline operators.

Speaking at Finchglow Holdings’ annual media engagement in Lagos, Bankole noted that while passengers often fault airlines for high ticket prices, a significant portion of airfare costs consists of statutory levies collected for agencies including the Nigerian Civil Aviation Authority, the Federal Airports Authority of Nigeria, the Nigerian Airspace Management Agency, and the Nigerian Safety Investigation Bureau.

He said, “Air tickets are expensive here, yes, it’s expensive in Nigeria. When you look at the ticket price, let me say N1,000 just for analysis, N450 goes to charges. So the airline is just collecting on behalf of everybody. Only N550 goes to the airline. The NCAA, FAAN, NSIB, and NAMA take some part of the money. Those are the things putting pressure on the cost of tickets.”

Bankole urged the government to review and scale back the levies, warning that their cumulative effect is passed on to passengers.

He added that the burden is compounded by the large number of federal airports that generate insufficient revenue.

“As of the last count, we have 22 federal airports. Every state that wants to have an airport is embarking on a capital project,” he said.

Meanwhile, Travelden Managing Director, Gbenga Onitilo, called on federal and state governments to curb indiscriminate price hikes by hotels and service providers during the festive season.

He warned that unchecked profiteering—particularly during the peak “Detty December” period, could undermine Lagos’ fast-growing December tourism economy.

Onitilo cautioned that steep prices charged by hotels and short-let apartment operators could dampen visitor interest in the 2025 festive celebrations.

“Pricing is one of the things that I think the government should be able to look at. Ghana has been able to do that. Rwanda has been able to do stuff. You create an ecosystem around it. It is not just about the hotel and tourism people alone.

“It is about all the ecosystems that surround it, whether it is nightlife, transportation, or shopping. It starts with big players. People providing these services must be reasonable enough to understand. The prices of rentals for some of these apartments are not just reasonable,” he said.