Bankole Bernard, the Group Managing Director (GMD), Finchglow Holdings, has said that inconsistent data from various agencies is impeding industry growth.
Bernard said a central data system would solve 50 percent of Nigeria’s challenges, providing a reliable foundation for policy formulation and business planning.
He stated this recently in Lagos as one of the panelists at the 28th annual conference of the League of Airport and Aviation Correspondents (LAAC) with the theme: Aviation Survivability Amidst A Challenging Macro-Economic Environment.
Bernard regretted that different agencies in the sector release diverse data for the industry, maintaining that it was impossible for the sector to survive without a central data system.
Bernard emphasised that the lack of verifiable data was slowing down the growth of the industry, stressing that the sector was not lacking in expertise.
He argued that with a verifiable central data system, 50 percent of the challenges in the sector would be solved.
He said: It is impossible for us as an industry to survive without having a central data system. Without a central data system, we are formulating our policies and making plans without a clear basis, and consequently, we are thriving in business without a solid foundation.”
Bernard urged the Federal Government and its agencies in the Nigerian aviation industry to be purposeful with data gathering for the sector’s growth.
The government was also urged to create an enabling environment for businesses.
Addressing the issue of fluctuating currency, Bernard decried the continuous depreciation of the naira against the dollar, noting its adverse effect on operational costs.
He called on the government to create policies that support the industry and maintain continuity to ensure sustainability. “Everything in our industry is dollarised, impacting our operations significantly. The government can initiate supportive policies to sustain the industry and help it stay afloat.
“Policy somersaults with each new government hinder our industry. Continuity in existing policies is crucial for our survival and growth,” he said.
