From left: Engr. Godwin Balang, Director, Airspace and Aerodrome standards, NCAA; Dr. Harold Demuren, former DG, NCAA and chairman of the occasion; Abdulfatai Buhari,, Chairman, Senate committee on Aviation,; Mrs. Olubunmi Kuku, MD, FAAN and Senator Peter Jyya, deputy chairman, Senate committee on Aviation at the South-West Regional Air Transportation Summit in Lagos on Wednesday
By Sade Williams
Aviation and Aerospace Development Minister, Festus Keyamo has called on relevant stakeholders to make concerted efforts towards repositioning the aviation sector.
The Minister made the call at the South-West Regional Air Transportation Summit held in Lagos on Wednesday,
The theme of the summit was ‘Repositioning the Nigerian Aviation Industry for Financial Capability and Economic Viability: An Inclusive Regulatory Dialogue.’
He said government, private sector, and international partners joint efforts cannot be over-emphasised in quest to transform the sector.
“Repositioning of the Nigerian aviation industry for enhanced financial capability and economic viability, is a matter of paramount importance. As you know, the aviation sector holds immense potential to drive our nation’s economic growth and global connectivity. The aviation sector is critically important to Nigeria for several reasons. It serves as a major catalyst for economic growth, connecting Nigeria to global markets, fostering tourism, and facilitating trade. The industry supports thousands of jobs, from pilots and engineers to airport staff and travel agencies.
“The repositioning our aviation industry requires a concerted effort from all stakeholders – government, private sector, and international partners. By taking bold and strategic steps, we can transform the Nigerian aviation sector into a model of financial capability and economic viability.”, he said.
Represented by the managing director of Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, Keyamo canvasses collaboration, infrastructure development, human capital development, among others as transformative strategies that can be deployed to fully harness potential of the sector.
According to him, ‘the success of the aviation sector directly impacts the overall economic health and global standing of Nigeria.However, to fully harness this potential, we must confront our challenges and embrace transformative strategies. Modernizing our airports, investing in state-of-the-art technologies, and ensuring world-class facilities are crucial. This will not only enhance passenger experience but also attract global airlines and boost tourism.’
“Strengthening our regulatory framework is essential. By fostering a transparent, efficient, and investor-friendly environment, we can encourage both local and international investments. Regulatory predictability will bolster confidence in our aviation sector.”, he added.
Keyamo also stressed the need for strategic partnerships, insisting collaborating with international aviation leaders and forming strategic alliances can bring in much-needed expertise, technology, and capital.
According to him, ‘partnerships can accelerate our progress and position Nigeria as a hub in West Africa.
“There is the need to also adopt prudent financial practices, reduce operational costs, and explore new revenue streams.
“These are crucial for financial sustainability. We must also focus on innovative financing models to support our ambitious infrastructure projects.’, Keyamo added.
