Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo (SAN) has revealed that Nigeria will continue to promote business development within the African aviation community.
The minister disclosed the aforementioned at the 7th Aviation Africa Summit and Exhibition, 2023 that was held at the International Conference Centre, Abuja on Wednesday, September 13, 2023.
“It is my pleasure to be with you here today at the 7th Edition of the Aviation Africa Summit and Exhibition 2023. Nigeria is honoured to have these distinguished captains of the aviation industry and industry stakeholders, from all over the world who are participating in this event to discuss trends, innovations, opportunities and challenges in the African aviation sector,” the minister’s statement reads in part.
He added: “As you are all aware, Air Transport remains an essential component of the global transportation system and it’s a crucial driver of economic, social and cultural development worldwide. Air transport generates economic growth and development, provides jobs and fosters a range of socio-economic benefits.
“In order to continue to harness and maximize the benefits of air transport in Africa, it is essential and expedient to continue to promote collaboration, knowledge sharing, and business development within the African aviation community that would practically address all the significant and structural challenges.”
He noted that “having this unique and important event for the seventh time demonstrates the organizer’s determination and interest to support the sustainable development of air transport in Africa. I therefore wish to take this opportunity to appreciate Times Aerospace Limited who has been the champion of the Aviation Africa Summit as well as making Nigeria the first country to host this noble event in West Africa.”
The Senior Advocate of Nigeria emphasized the significance of air transportation in the development of an economy.
“The recent global events, further exposed the immense contribution and importance of air transportation as a catalyst for economic development, vital engine of global socio-economic growth, one of the greatest contributors to the advancement of modern society and a key instrument for achieving the United Nations Sustainable Development Goals (SDGs).
“These underscore why the world was greatly impacted, when international aviation was disrupted by the pandemic and other global occurrences,” he stated.
He stressed that “it is the vision of this current administration to make Nigeria the Aviation hub of Africa.”
The minister of Aviation and Aerospace Development went further to say ‘in order to attract foreign investors, the government is already looking at the following areas to improve Aviation business in Nigeria’, comprising; “Upgrading infrastructure – this includes upgrading of the Cat3 landing system, at major airports, construction of the second runway in Abuja, airport improvement programmes through Concession and government willingness to partner with companies to turn major airports into Aerotropolis.
“Aircraft Leasing Company – Government welcomes major players in aircraft leasing and Head lessors to invest in Nigeria airlines to provide state of the art aircraft. Government will ensure enforcement of contract agreement and the rights of investors and indeed all parties are protected; and Nigeria being a signatory to the Cape Town Convention will uphold international obligations.”
Other areas to be improved are; “Aircraft Maintenance Organisation – Maintenance, Repair, and Overhaul (MRO) facility is another critic aspect that can make the Nigerian aviation industry a hub on the continent. With the shortage of qualified engineers, the current administration is willing to provide all the necessary support for the establishment of world class MROS and training organization; Forex availability – The current administration is aware that one of the setbacks entrepreneurs have suffered in Nigeria in recent years is the fluctuation of foreign exchange and its availability. This administration is commit to ensuring that forex is readily available to entrepreneurs and I have directed that the Central Bank of Nigeria (CBN) holds quarterly reconciliation meetings with a view to resolve this issue.”
He also identified “Tax holidays – The current administration is open to provide tax holidays to encourage existing and new entrants into the Nigerian Aviation Sector.”
The minister reiterated that the current administration will continue to sustain the support being given to the industry, adding that “I firmly believe that as key players and decision makers, this Summit will provide the required atmosphere for you to discuss, and identify recovery strategies that would attract private investors to support the funding of infrastructure projects by building a transparent, stable and predictable investment climate, as well as include aviation in the continent’s national development plans.”
