RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Currencies

London’s Economic Ticket Affected By Naira’s Devaluation

Rate Captain by Rate Captain
September 10, 2021
in Currencies, Economics, Markets
Reading Time: 3 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

Naira Strengthens to N1,400.66/$ in Official Market as US Dollar Weakens Globally

Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

Naira Ends Week Weaker at N1,421.63/$ as Supply Shortages Fuel Volatility

The Chief Executive Officer of Shenbee Travels Limited, Wole Shenbanjo, in this interview, spoke about emerging issues in Nigeria’s economy, and events in the travel and tourism industry. Excerpts:

How has the devaluation of the Naira affected international air travel?

It has affected travel a great deal. Ticket fares have increased astronomically. You have economy tickets to London costing as high as N1 million. Not to include the cost of Covid-19 tests here and there especially the ones you have to pay for abroad. It has really affected holiday travels this period. I know quite a number of families who have had to postpone, cancel or reschedule their holidays due to cost constraints.

What do you think will be the long-term impact of COVID-19 on air travel?

Before talking long-term impact, we have already started to experience the impact and more importantly the recovery. Initially, we had everything come to a standstill with nations shutting their borders and all of that. A lot of countries that know what they are doing and understand the importance of travels have started to experience what we call the Post Covid-19 recovery.

In the long term, I believe we will experience safer travels. Most countries would not go back on the health and safety measure put in place as a result of Covid-19. As more people get vaccinated, we will see a pick up in travels across the globe. In another two years, we hope to be back to our Pre-Covid-19 numbers.

Would you say that the shrinking of international holiday destinations has made travel agents innovative and in what way?

Absolutely. It has caused us to be more innovative. We have had to research and explore more destinations to offer our clients. Personally, I have had cause to visit two new destinations this year to experience firsthand and be able to offer more options to our clients. So, we will continue to see more of that. We now have to look inwards into Africa and other safer destinations that are open to receiving tourists.

It has made a lot of us go all out in exploring and pushing our domestic tourism, which I strongly believe will thrive as we look to better days ahead.

With selective lockdown of many places in Europe and Americas, do you foresee a boost in African tourism?

Most definitely. Just this August, I went on holiday with my family to Ghana. You can imagine, as exposed and well traveled as we are, we had never visited Ghana, which is literally next door. It was a beautiful experience seeing lovely resorts and all that. We have had a lot of people reach out to us to help package similar tours. I am sure a lot of the top agencies and tour operators would be getting similar requests and experiences. People are now more interested in seeing Africa. Agencies and tour operators are beginning to showcase more of Africa; it will really be a great boost for African tourism if we are able to sustain it.

Would you say that the shrinking of international holiday destinations has made travel agents innovative and in what way?

Absolutely. It has caused us to be more innovative. We have had to research and explore more destinations to offer our clients. Personally, I have had cause to visit two new destinations this year to experience firsthand and be able to offer more options to our clients. So, we will continue to see more of that. We now have to look inwards into Africa and other safer destinations that are open to receiving tourists.

It has made a lot of us go all out in exploring and pushing our domestic tourism, which I strongly believe will thrive as we look to better days ahead.

With selective lockdown of many places in Europe and Americas, do you foresee a boost in African tourism?

Most definitely. Just this August, I went on holiday with my family to Ghana. You can imagine, as exposed and well traveled as we are, we had never visited Ghana, which is literally next door. It was a beautiful experience seeing lovely resorts and all that. We have had a lot of people reach out to us to help package similar tours. I am sure a lot of the top agencies and tour operators would be getting similar requests and experiences. People are now more interested in seeing Africa. Agencies and tour operators are beginning to showcase more of Africa; it will really be a great boost for African tourism if we are able to sustain it.

Previous Post

CBN Total Assets In Banking Industry Reaches N53.63 Trillion For June 2021

Next Post

UniCredit To Renegotiate A Five-Year-Old Deal With Amundi SA

Related News

Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

Naira Strengthens to N1,400.66/$ in Official Market as US Dollar Weakens Globally

by Stephen Akudike
January 28, 2026
0

The Nigerian naira extended its early-2026 rally on Tuesday, reaching a monthly high of N1,400.66 per dollar in the official...

2024 Budget Outline: Oil Price Set at $77.96, Naira Stands at 750 Against the Dollar

Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

by Stephen Akudike
January 27, 2026
0

Nigeria and the United Arab Emirates have signed a Comprehensive Economic Partnership Agreement (CEPA) that removes tariffs on thousands of...

Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

Naira Ends Week Weaker at N1,421.63/$ as Supply Shortages Fuel Volatility

by Stephen Akudike
January 26, 2026
0

The naira closed the trading week on a soft note, depreciating across both official and parallel markets amid persistent supply...

$26 Billion for unidentified source passed through Binance-Cardoso

CBN Auctions N1.15 Trillion in Treasury Bills as Investors Eye Higher Yields

by Stephen Akudike
January 22, 2026
0

The Central Bank of Nigeria (CBN) is set to conduct its second Treasury bills auction of 2026 today, offering instruments...

Next Post

UniCredit To Renegotiate A Five-Year-Old Deal With Amundi SA

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

World Bank Emphasizes Cash Transfers to Break Poverty Cycle in Nigeria

Nigerian Companies Secure Over $2.5 Billion in World Bank Contracts, Rank Fifth Globally

January 28, 2026
Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

Naira Strengthens to N1,400.66/$ in Official Market as US Dollar Weakens Globally

January 28, 2026

Popular Story

  • 2024 Budget Outline: Oil Price Set at $77.96, Naira Stands at 750 Against the Dollar

    Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

    0 shares
    Share 0 Tweet 0
  • Dangote Refinery Suspends Petrol Sales and Cancels Contracts as Crude Supply Issues Bite

    0 shares
    Share 0 Tweet 0
  • US Records $1.45 Billion Trade Surplus with Nigeria in First 10 Months of 2025 as Exports Surge 60%

    0 shares
    Share 0 Tweet 0
  • Nigeria Customs Service Surpasses N7.2 Trillion Revenue Target in 2025

    0 shares
    Share 0 Tweet 0
  • National Grid Collapses Again, Plunging Nigeria into Nationwide Blackout

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>