…..Emphasizes Regulation and Financial Independence
At the recently concluded South-West Regional Air Transportation Summit (SWRATS) 2024 in Abuja, organized by the Nigeria Civil Aviation Authority (NCAA), an aviation expert, Mr. Oluseyi Ogunleye presented a roadmap for transforming Nigeria’s aviation sector through effective regulatory practices and economic strategy.
Drawing from his extensive experience as an Assistant Vice President at Dallas-Fort Worth (DFW) International Airport, the world’s second-busiest airport, Ogunleye highlighted the critical importance of financial independence and self-sustaining operational models in aviation.
DFW’s success, he noted, hinges on strategic collaboration between the cities of Dallas, Fort Worth, and surrounding municipalities.
This board-driven governance model has allowed the airport to approve and fund large-scale projects, including a recent $9 billion investment, without relying on federal government support.
“One of the things that the airport was looking to do was spend $9 billion over a five-year period. They have the money already and this is an airport. They don’t need government sponsorship, they need government approval”.
Ogunleye encouraged Nigerian airports to consider similar models that foster local and regional support, creating financial independence and allowing airports to flourish as economic engines.
“You don’t need the central government, you don’t need who’s president. It doesn’t matter who’s in office, you generate so much money that your cities are interested in you”.
The theme of the summit, “Repositioning the Nigerian Aviation Industry for Financial Capability and Economic Viability,” aimed to explore ways to enhance the industry’s economic viability and financial capability.
He urged the NCAA to develop policies that unlock Nigeria’s aviation potential, emphasizing that regulatory bodies can play a central role in economic growth.
Highlighting projections of global air traffic doubling by 2050, he pointed to Africa’s anticipated air traffic growth by 2035 and urged Nigeria to seize this opportunity.
The expert underscored that rising air traffic could generate significant job creation, economic opportunities, and increased consumer spending, urging Nigeria to become a proactive participant in this projected growth rather than standing by while other African countries, such as Ethiopia and Ghana, lead the way.
He acknowledged the complex role of regulators, pointing out that those who enforce standards are often unpopular, stressing the need for regulatory bodies to be willing to be the “bad guys” in the room, ensuring that airlines and other stakeholders adhere to safety and security standards.
However, Ogunleye also emphasized that regulatory vigilance is vital for maintaining industry standards, fostering public trust, and ensuring safety, security, and efficiency.
Reflecting on his experience as an inspector, he described how strict oversight can motivate adherence to best practices, this, he argued, creates a culture of accountability that is essential for long-term industry growth and passenger confidence.
“Because, there is a personal accountability and professional accountability for doing things wrong in civil aviation, people have gone to jail criminally found negligent personally and on top of their companies being fined massive amounts of money. Consequences, we have to keep that in mind”.
Ogunleye also emphasized that passenger experience starts long before boarding an aircraft, shaped by factors like airport access, security, and waiting times.
Regulatory efforts that improve these factors can significantly raise passenger confidence, boosting Nigeria’s competitiveness as an aviation hub.
Effective regulation, Ogunleye continued, is key to attracting international investment.
He pointed to the critical importance of complying with International Civil Aviation Organization (ICAO) standards, as compliance reassures investors of Nigeria’s commitment to global aviation norms.
For him, transparency and accountability in the aviation sector are essential for enticing foreign investors, who need reassurance that their funds are well-managed.
Robust regulatory oversight and clear standards, he argued, could elevate aviation’s contribution to Nigeria’s GDP from 0.4% to 1%, or even up to 4%, providing significant economic benefits.
“Effective regulatory oversight must be present before we can tap fully into the resources or the opportunities that would make Nigeria as important as we want it to be when it comes to economic viability”.
