The troubled aviation sector’s contribution to the economy is expected to shrink further in 2017 as domestic airlines are not taking full advantage of the ‘Open Skies’ arrangements Nigeria has entered into to boost their operations.
The ‘Open Skies’ policy, also known as the Yamoussoukro Declaration, signed in 1999, which Nigeria is privy to, commits to the liberalization of African skies for African airlines and aims to establish a single African air transport market by avoiding market restrictions.
The Nigerian aviation’s sector’s contribution to GDP fell from $700 million in 2014 to $300 million in 2016 , a 57percent drop, according data from the National Bureau of Statistics (NBS).
Experts say it is the fall out of this policy that recently led to the approval of the aviation ministry for Asky Airlines, the Pan African Airline, to commence nonstop flights from Lagos to Johannesburg and Rwand Air, East African carrier to commence Lagos-Accra operations.
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