October 09, (THEWILL) – The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, has emphasised the need for Nigeria to ensure that it finances all the necessary infrastructure in both the aviation and other sectors in the nation’s economy.
The Minister made the disclosure on Wednesday, at the South West Regional Air Transportation Summit (SWATS), 2024, with the theme: “Repositioning The Nigerian Aviation Industry For Financial Capability and Economic Viability” held at Radisson Blu in Victoria Island, Lagos.
The Minister stated that though Nigeria has improved on their ratings from 49% to over 70%, the country must continue to abide by the Capetown Convention (CTC), which means that there is a renewed confidence in the economy, particularly in aircraft lease agreements.
Keyamo, who was represented by the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs Olubunmi Kuku, also emphasised that with the new development in the areas of better aircraft lease arrangement, through CTC, there would be an increase in the fleet size in our market to reciprocate the Bilateral Air Service Agreement (BASA).
“We see an increase in the fleet size in our market to reciprocate BASA and have an impact on flight delays which were before now, due to lack of capacity. To achieve that, we need to finance all the necessary infrastructure”, the Minister said.
All these improvements, Keyamo said, also need MRO facilities that would support the growth.
Pledging that the government will continue to improve the skills of operators, pilots and other practitioners in the industry, the Minister added that they will also continue to engage with the private sectors in areas of airport contracts, concession arrangements and others.
He also advised that there is equally need to review the Civil Aviation regulatory aspects as it concerns financial prudence and accountability.
“For government agencies to become financial prudent, we need to continue to leverage on technology and reduce operational costs and explore new revenue streams”, the Minster said.
In his welcome address, Acting Director General, Civil Aviation, NCAA, Capt Chris Najomo highlighted the specific objectives of the Summit to include: advocacy for adequate funding, sound financial management and operational safety in Nigeria civil aviation, review and enhance existing service standards to align with international standards, Secure commitments from stakeholders, assess existing local laws and international regulations.
Other objectives as listed by the acting DG include :to identify gaps in infrastructure and technology; strengthen airlines and other service providers to enhance efficiency; support susranaible growth of local airlines and develop a strategic vision plan to improve funding, financial management, service execellence and operational efficiency.
Capt Najomo, who was represented Engr Godwin Gyang Balang, the Director, Aerodrome and Airspace Standards (DAAS), NCAA, assured that the aviation sector aligned with Mr Presidents priority areas through the Honourable Minister Five-Point Agenda, which remains crucial, given the vital role Civil Aviation plays in national economic development, international trade and investment opportunities.
“The Nigerian economy is facing significant macroeconomic and
developmental challenges. But these are by no means insurmountable. They can be overcome through implementing innovative approaches.
“At the highest levels of governance, His Excellency, President Bola Ahmed Tinubu, GCFR, laid out an Eight-Point Agenda for economic restoration and growth, which redefined the presidential priority areas of the administration.
“This represented a clarion call for all government agencies to efficiently execute their respective mandates.
The aviation sector aligned with Mr President’s Priority Areas through the Honourable Minister’s Five-Point Agenda. This remains crucial given the vital role civil aviation plays in national economic development, international trade and investment opportunities.
“This summit reflects our commitment to realigning our strategies and approaches in fulfilling our constitutional responsibilities, especially as it relates to the strategic initiatives of the Honorable Minister, and indeed Mr. President. We trust that the outcome will signal a new era of inclusive regulatory practices, fostering sector growth, safety, service excellence, and improved passenger experiences”, the DG added.
In his remarks, former Director General of the Nigeria Civil Aviation Authority NCAA, Dr Harold Demuren commended the NCAA for the Summit in terms of the timing and objectives.
Demuren emphasised that the Summit which serves as a departure from the traditional regulatory model is aimed at establishing a roadmap by critical stakeholders to champion adequate funding and sound management strategies.
He said “This event, must serve asa strategic departure from the traditional enforcement-focused regulation to a regulatory model of intervention and business solution-centered approach.
Commending NCAA further, the former DG said “I will like to commend the current leadership of the NCAA led by Capt Chris Najomo and also the consulting outfit for this unparalleled strategic initiative, both in terms of timing and objective.
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
