…as NANTA Seeks Minister’s Intervention to Check Unfair Trade Practices
Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, has assured that the federal government will address all travel trade-related concerns to stabilize Nigeria’s aviation industry.
He emphasized that empowering Nigerians is key to achieving this goal.
The minister made these remarks on Tuesday in Abuja during a visit from the president and executive members of the National Association of Nigeria Travel Agencies (NANTA).
Keyamo acknowledged the challenges facing the industry, particularly the difficulties Nigerian airline operators face in competing profitably and meeting the demands of the traveling public.
“My mission is to restore the glory of the Nigerian aviation industry, and that is why I have embarked on visits to aircraft manufacturing companies to help our local investors acquire aircraft. We need to open up the market for dry leasing to Nigerian operators. Wet leasing is stifling our capacity to grow the sector sustainably. Empowering Nigerians is my major concern,” he said.
He added, “We must work together to clean up the system. I commend NANTA for their support during the most difficult periods in our industry and for the traveling public. We need your continued faith and assistance to create jobs and empower our people”.
NANTA President, Mr. Yinka Folami, assured the minister of NANTA’s unwavering support and collaboration, acknowledging the minister’s efforts to reform the sector.
“We salute your courage and determination to clean up the sector. We will continue to support you and provide critical information needed to change the narratives in the industry,” Folami said.
Folami also requested the minister’s intervention to ensure equity and fairness in the travel trade market, highlighting that the market has shrunk by about 40% due to unregulated cross-border trading by foreign merchants and their local collaborators.
“We have no problem with global players in our market, but they should play fair and stop encroachment on global fares, which has a depressing effect on the Nigerian economy and travelers. Our market is eroded by this development, and jobs are threatened. We want the government to initiate policies to check these unethical practices and, where necessary, sanction those responsible for economic sabotage,” Folami urged.
