United Nigeria Airlines CEO, Obiora Okonkwo, has raised concerns over the harsh business environment in Nigeria, citing excessive and unexplainable taxes as well as crippling loan rates. Speaking on Thursday, Okonkwo lamented that operational costs for airlines in the country remain enormous compared to global standards.
He noted that loan interest rates in Nigeria currently range between 30–35%, while in other countries they are significantly lower, between 2–7%. According to him, this disparity places Nigerian businesses, especially airlines, at a severe disadvantage and threatens sustainability in the aviation sector.
Okonkwo’s remarks highlight the broader challenges faced by operators in Nigeria’s aviation industry, including high fuel costs, multiple levies, and regulatory hurdles. Stakeholders argue that unless urgent reforms are introduced, the sector may struggle to remain competitive and attract investment.