The President of the Aviation Safety Round Table Initiative (ARTSI), Air Commodore Ademola Onitiju, rtd, has called for urgent action to revive Nigeria’s aviation sector, which he described as facing an existential threat.
Speaking at the quarterly Business Breakfast Meeting, Onitiju emphasized the need for the government to create a conducive environment for the sector to thrive, reduce operational costs, and enhance safety and competitiveness.
The ARTSI President commended the Minister of Aviation and Aerospace Development, Festus Keyamo, for his efforts in initiating the activation of the Cape Town Convention Practice Directions, which has catapulted Nigeria into the group of nations where lenders and investors can recover their assets and resolve disputes promptly.
However, Onitiju noted that despite these efforts, the sector still faces numerous challenges, including high air ticket prices, reduced purchasing power of Nigerian citizens, and the need for purposeful coordination between the aviation sector and other government agencies.
To address these challenges, the ARTSI has recommended a range of measures, including the establishment of an Aviation Finance Bank, a single-digit lending rate for the sector, and the exemption of local refineries from taxation related to the production of Jet A1 fuel.
The organization has also called for the strengthening and funding of aviation agencies, the adoption of new technologies, including drones and electric vertical take-off and landing aircraft, and the implementation of a domestic Public Service Obligation policy.
Furthermore, Onitiju emphasized the need for human capital development, the suspension of operational charges, and the protection of local airlines from the adverse consequences of Open Skies and AfCTA operations.
The ARTSI President urged the government to demonstrate political will to implement these recommendations and protect the aviation sector, which he described as a catalyst for the growth of the tourism, hospitality, and other sectors of the economy.
