By Lawan Musa Danlami (Baba Lawan)
November 2025
Government Moves to Assert Economic Sovereignty
In a decisive reaction to U.S. President Donald Trump’s controversial remark threatening to “attack Nigeria,” the Federal Government has announced an immediate ban on the use of U.S. dollars for airline ticket sales across the country.
The new directive mandates that all ticket transactions within Nigeria must henceforth be conducted strictly in naira, a move officials describe as both an economic and patriotic response to foreign intimidation.
A Bold Economic Retaliation
The policy marks a turning point in Nigeria’s foreign exchange management and demonstrates a clear determination to protect the naira from external manipulation.
According to the Aviation Ministry, the directive takes immediate effect, covering both local and international airlines operating within Nigerian airspace.
Economists say the decision could potentially reduce dollar demand, stabilize the exchange rate, and boost confidence in the local currency.
Historical Parallels: Lessons from Global Currency Defiance
Nigeria’s move is not without precedent. Several nations have, at different times, taken similar actions to assert currency independence and safeguard national interests:
Russia (2014–2015): Following U.S. and European sanctions over Crimea, Russia began promoting the use of the ruble in trade with Asia and later introduced bilateral payment systems with China and India to reduce dollar reliance. (Source: Reuters Archive, 2015)
Iran (2012): In response to Western sanctions, Iran switched oil transactions with key partners like India and China to local currencies and gold. (Source: BBC News, March 2012)
India (2018): Amid rising dollar volatility, India and Russia established a rupee–ruble payment system for defense and energy transactions. (Source: The Hindu, October 2018)
China (2009–2019): As part of its “de-dollarization” strategy, China expanded yuan-based trade settlements, especially with countries under the Belt and Road Initiative. (Source: Financial Times Archive, 2019)
Malaysia (1998): During the Asian Financial Crisis, Malaysia defied IMF recommendations and pegged the ringgit, banning foreign exchange speculation and limiting dollar exposure. (Source: IMF Historical Archive, 2001)
These examples highlight a global shift toward monetary sovereignty, especially among nations seeking to shield their economies from Western economic dominance or political threats.
Experts Weigh In
Financial analyst Dr. Olumide Adesina described the policy as “a symbolic yet strategic step” that could yield long-term stability.
> “If properly managed, this could boost confidence in the naira, discourage dollar speculation, and encourage other sectors to localize their transactions,” Adesina said.
He noted that while short-term market disruptions may occur, the medium-term benefits of enhanced currency control outweigh the risks.
Background: Trump’s Remark Sparks Diplomatic Tension
Tensions between Abuja and Washington escalated after Trump’s inflammatory statement suggesting that “Nigeria must be taught a lesson.” The comment, widely condemned as neo-imperialistic, sparked outrage across the African continent.
The Nigerian government’s response sends a strong message that economic independence and national dignity are non-negotiable.
CBN and AfCFTA Integration
Sources at the Central Bank of Nigeria (CBN) confirmed that the apex bank is aligning this directive with broader monetary reforms promoting naira-based trade across Africa under the African Continental Free Trade Area (AfCFTA).
Such measures could accelerate Nigeria’s leadership in regional economic integration and reduce dependence on Western currencies.
Public Reaction: Pride and Policy Debate
The decision has sparked a wave of public debate. While travel agencies foresee operational challenges, the majority of Nigerians view it as a courageous defense of national sovereignty.
> “For too long, we’ve tied our economy to the dollar. It’s time to make the naira great again,”
— Ibrahim Musa, Travel Consultant, Kano
The Bigger Picture
If Nigeria’s policy proves successful, it could become a model for other African economies seeking to reclaim control over their financial systems.
By prioritizing the naira in aviation and possibly in broader international trade, the government aims to build a new era of currency confidence and regional autonomy.
> “This is more than a currency issue — it’s about sovereignty, identity, and economic freedom,”
— Senior Ministry of Finance Official
Conclusion
For Nigeria, this move represents more than economic policy — it is a statement of independence.
As the world watches, the skies above Nigeria have become a symbolic frontier for defiance, resilience, and the rebirth of the naira.
References
1. Reuters Archive (2015) – “Russia Promotes Ruble-Based Trade Amid Western Sanctions.”
2. BBC News (2012) – “Iran Turns to Local Currencies and Gold in Oil Transactions.”
3. The Hindu (2018) – “India-Russia Rupee-Ruble Trade Agreement Signed.”
4. Financial Times (2019) – “China Expands Yuan-Based Settlement in Belt and Road Countries.”
5. IMF Historical Archive (2001) – “Malaysia’s Capital Controls and Ringgit Policy Review.”
About the Author
Lawan Musa Danlami (Baba Lawan) is a writer, political analyst, and economic commentator based in Kano. Known for his deep insights into governance, diplomacy, and African economic policy, Baba Lawan has written extensively on Nigeria’s evolving political economy and global relations. He is passionate about monetary reform, national sovereignty, and youth empowerment in leadership.
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