…assures investors of enforcement of contracts
…lists efforts in infrastructure upgrade, others
The Federal Government says, it is poised to turning around the fortune of the Nigeria Aviation industry through infrastructure upgrade, foreign direct investment and hub creation.
The Minister of Aviation and Aerospace development, Mr Festus Keyamo who stated this while formally declaring the 7th Edition of the Aviation Africa Summit and Exhibition 2023 open in Abuja noted that, the current administration is open for partnership in the areas of aircraft leasing, assuring that government would ensure enforcement of contract agreement and the rights of investors and all parties are protected.
“Government welcomes major players in aircraft leasing and Head lessors to invest in Nigeria airlines to provide state of the art aircraft and Nigeria being a signatory to the Cape Town Convention will uphold international obligations”.
In the area of manpower development for the sector, the Minister said, with the shortage of qualified engineers, the current administration is willing to provide all the necessary support for the establishment of world class Maintenance Repairs Overhaul, MRO’s facilities and training organization.
“Maintenance, Repair, and Overhaul (MRO) facility is another critic aspect that can make the Nigerian aviation industry a hub on the continent”.
He explained that, efforts are on by government to upgrade its infrastructure to consolidate on the safety records of the country which includes, upgrading of the CAT 3 landing system, at major airports, construction of the second runway in Abuja.
Others are, airport improvement programmes through Concession and the willingness of government to partner with companies to turn major airports into Aerotropolis.
On the major challenge of airlines which is the availability of foreign exchange to part spares, maintenance of aircraft and other ancillary services, Keyamo said, government is not oblivious of this problems but have set plans in motion to address it.
“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”.
He added, “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”.
The Minister announced that, current administration led by President Bola Tinubu is open to provide tax holidays to encourage existing and new entrants into the Nigerian Aviation Sector.
“It is the Vision of this current administration to make Nigeria the Aviation hub of Africa”.