Nigeria Ambitious aim is to Become Africa’s Aviation Hub, Says Minister Keyamo
Festus Keyamo, the Minister of Aviation and Aerospace Development in Nigeria, has expressed Nigeria ambition and the federal government’s determination to position Nigeria as the aviation hub of Africa. This ambitious goal was shared during the Seventh Aviation Africa Summit and Exhibition 2023 held in Abuja.
Keyamo outlined several strategies aimed at achieving this objective by addressing the challenges currently faced by the aviation industry, with the primary goal of attracting foreign investors to Nigeria.
Nigeria Ambitious Development of aircraft leasing companies and aircraft maintenance
Nigeria Ambition’s key focus area is the development of aircraft leasing companies and aircraft maintenance organizations, coupled with measures to ensure foreign exchange availability and provide tax incentives to enhance the aviation business in Nigeria. Upgrading the CAT III landing system at major airports, constructing a second runway in Abuja, and implementing airport improvement programs through concessions are some of the infrastructure-related initiatives.
Furthermore, the government of Nigeria Ambitious is open to partnerships with companies to transform major airports into aerotropolises, integrated urban centers with airports as their core. Keyamo stated that the government welcomes major players in aircraft leasing and head lessors to invest in Nigerian airlines, providing them with state-of-the-art aircraft.
Keyamo also emphasized the importance of protecting the rights of investors and enforcing contract agreements, highlighting Nigeria’s commitment as a signatory to the Cape Town Convention, which ensures compliance with international obligations.
To further bolster Nigeria’s aviation sector, Keyamo stressed the critical role of a Maintenance, Repair, and Overhaul (MRO) facility. Recognizing the shortage of qualified engineers, the government intends to offer full support for the establishment of a world-class MRO facility and training organization.
Foreign exchange stability and availability have been longstanding challenges for entrepreneurs in Nigeria. Keyamo affirmed the government’s commitment to resolving these issues by ensuring that foreign exchange is readily available to entrepreneurs. He also directed the Central Bank of Nigeria (CBN) to hold quarterly reconciliation meetings to address foreign exchange-related matters.
The aviation industry plays a pivotal role in Nigeria’s economic development, and the government’s initiatives seek to enhance its competitiveness and attractiveness to both domestic and international investors. As the government works towards its goal of making Nigeria Africa’s aviation hub, it anticipates that these measures will propel the industry to new heights on the continent.
In conclusion
Nigeria’s vision of becoming Africa’s aviation hub reflects its commitment to fostering economic growth and enhancing connectivity within the region’s aviation sector.
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