August 12, 2022

Analysts predict that within the subsequent ten years, Nigeria’s passenger visitors will exceed that of the worldwide aviation sector, rising at a fee of roughly 7%, whereas the worldwide business grows at 5.3 p.c.

Sadiku Rafindadi, Director, Business and Enterprise Improvement, Federal Airports Authority of Nigeria (FAAN), mentioned yesterday in Abuja on the Nationwide Aviation Convention Funding Discussion board that the aviation business is essential to Nigeria’s socio-economic growth.

He revealed that in 2020, home and worldwide passenger visitors was 9.3 million, in comparison with 15.8 million in 2021, a distinction of 41%.

Rafindadi cited a June 2020 examine by the Worldwide Air Transportation Affiliation (lATA) that highlighted the numerous contributions of aviation to the nationwide financial system by offering 241,000 jobs, each straight and not directly, supported by the sector’s provide chain value $1.7 billion to the nationwide financial system.

The Director bemoaned that the Nigerian aviation market is huge and undeveloped, however FAAN plans to make the most of present prospects with its 21 airports.

He added that the sector is strategically positioned to profit from anticipated development within the African market because of its proximity to Europe, the Center East, and the remainder of Africa, as most of West and Central Africa is inside a 4-hour flight time from Nigeria, and there’s no clear dominant airline current.

FAAN is reworking its enterprise mannequin to change into self-sustaining by means of extra non-public sector participation, lessening the federal government’s monetary load, he mentioned.

FAAN, in line with Rafindadi, is maximizing its contribution to Nigeria’s socio-economic growth by rising tourism, commerce, and FDI inflows, in addition to specializing in the growth of agro-allied and higher financial processing zones at designated airports.

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Capt. Musa Nuhu, Director-Basic of the Nigeria Civil Aviation Authority (NCAA), said in his remarks that the 12,000 hectares lately allotted by the FCTA for the development of Abuja airport presents an opportunity for traders to spend money on the Nigerian aviation enterprise.

He said that the Nigerian aviation enterprise gives quite a few funding alternatives, and that as a regulator, they’re working to unbundle guidelines to make it simpler for individuals to spend money on all areas, notably common aviation.