Rabiu Yadudu, the managing director of the Federal Airports Authority of Nigeria, (FAAN) has disclosed that in 2021, Nigeria lost $2.5 billion (about N1.25 trillion) in aircraft maintenance repair and overhaul investments in neighbouring countries.
Yadudu who disclosed that Nigeria has the largest fleet of aircraft within the subregion noted that having this investment in Nigeria would have created more employment opportunities for Nigerians, revenue generation and training of technical personnel for maintenance of aircraft.
He explained that the interlink and value chain between the air transport, tourism and hospitality industry for economic growth cannot be over-emphasized.
Speaking during the FAAN national aviation conference in Abuja, he said the country’s potential and capacity in the global air transport industry are grossly underutilized, adding that Nigeria’s aviation sector is desirous of attaining the status of a major player in the global aviation sphere and this is the time to reposition and move the industry forward.
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“Today, the Eiffel Tower in Paris, London bridge, Dubai Mall, Burj Khalifa, the British Museum in the United Kingdom, e.t.c. have all been consciously developed into major tourist attractions that drive passenger traffic to those destinations and by implication attract businesses and generate employment for the locals and foreigners alike,” Yadudu said.
He hinted that the conference will also feature trade and investment sessions, where opportunities for investments at various airports will be showcased and investors will also have first-hand information on how to partner with FAAN in mutually beneficial business arrangements.
He assured us that at the end of the conference, the agency will come up with a working document that would be transmitted to all the stakeholders for immediate and sustained action.
“It will be a living document. We also intend to make this conference an annual event, where we keep working on ideas aimed at building and implementing the resolutions reached in past conferences.
“We hope that the resolutions and recommendations that would come out from this conference will bring lasting and sustainable solutions to the challenges confronting the industry,” he stated.
Also speaking at the event, Musa Nuhu, director-general of Nigeria Civil Aviation Authority (NCAA) said the aviation sector was badly hit by the COVID-19 effects, the dollar price increase, increase in the cost of aviation fuel and the devaluation of the naira, which worsened the problems of the aviation sector.
Nuhu however with the speedy implementing of the aviation road map, these challenges of the sector will be mitigated.
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