Mr. Festus Keyamo, the Minister of Aviation and Aerospace Development, declared the Federal Government's strong determination to position Nigeria as the primary aviation hub in Africa. Keyamo made this announcement during the seventh edition of the Aviation Africa Summit and Exhibition 2023 in Abuja.
He outlined the government's strategy to achieve this goal by addressing challenges within the aviation sector to attract foreign investment. Keyamo highlighted key initiatives, including improvements to the Aircraft Leasing Company, Aircraft Maintenance Organization, Forex availability, and Tax holidays, all aimed at enhancing the aviation business in Nigeria.
The government is also actively upgrading the Cat3 landing system at major airports, constructing a second runway in Abuja, implementing airport improvement programs through concession agreements, and seeking partnerships with companies to transform major airports into Aerotropolises.
Keyamo emphasized the government's readiness to welcome major players in aircraft leasing and headlessors to invest in Nigerian airlines, providing state-of-the-art aircraft. He assured the enforcement of contract agreements and the protection of investors' rights, in line with international obligations as a signatory to the Cape Town Convention.
The Minister emphasized the importance of a Maintenance, Repair, and Overhaul (MRO) facility in making Nigeria's aviation industry a continental hub. He pledged the government's support in establishing a world-class MRO and training organization to address the shortage of qualified engineers.
Keyamo acknowledged the challenges posed by fluctuating foreign exchange availability and committed to ensuring a stable forex supply to entrepreneurs. He also expressed the government's openness to providing tax holidays to encourage both existing and new entrants into the Nigerian Aviation Sector.
In conclusion, he stressed the government's ongoing support for the aviation industry and encouraged discussions at the summit to identify recovery strategies that attract private investors for infrastructure projects. Keyamo underscored the vital role of air transport in global economic, social, and cultural development, emphasizing its contribution to economic growth, job creation, and socio-economic benefits.
He expressed gratitude to the organizers of the Aviation Africa Summit and highlighted the importance of collaboration, knowledge sharing, and business development within the African aviation community for addressing significant challenges and fostering sustainable air transport development on the continent.
