Atedo Peterside, the Founder of Stanbic IBTC Bank, has cautioned the Nigerian government about the dangers of the Niger Republic’s airspace being closed.
Peterside, the President and Founder of Anap Foundation and Anap Jets warned that the move would have economic consequences for Nigeria.
The famous boardroom guru was reacting to the current imbroglio between Nigeria and the Niger Republic.
Nigeria has imposed sanctions on the new military regime in the neighbouring country, with the junta responding in equal measure.
Peterside has joined many prominent Nigerians calling for a dialogue to resolve the impasse.
”The closure of Niger Republic airspace will increase the cost of flights from Nigeria to Europe.
”If Burkina Faso and Mali join Niger in declining overflight rights to Nigerian-bound aircraft, then inbound and outbound flights from Nigeria to Europe will become expensive.”
When asked if the Nigerien authorities can enforce the no-flight zone on their airspace, Peterside responded in the affirmative, suggesting that most Europe-bound flights from Nigeria use the French-speaking country’s airspace.
”Yes, they can enforce it. More importantly, insurers and reinsurers will not allow commercial air traffic to fly into forbidden airspace.
”With no insurance cover whatsoever, no right-thinking person will agree to fly into that space.”
The Northern Senators Forum had cautioned President Bola Tinubu against engaging in warfare with the Nigerien junta.
The senators noted that any confrontation in the sub-region would destabilise their domain, as Nigeria and Niger are bordered by seven states.