The minister of Aviation and Aerospace Development, Festus Keyamo, on Tuesday, said his agenda in the nation’s aviation sector was to ensure improvement and development of infrastructure for passenger convenience.
Speaking at a webinar titled, ‘repositioning the aviation sector for revenue generation and growth: the role of legislation,’ the minister said he would optimise revenue generation in the sector.
According to him, evolving market dynamics and global uncertainties have necessitated the need to reposition the nation’s aviation sector for sustainable growth.
Keyamo said, “as a Ministry, our mandate amongst others, is the formulation and management of the government’s aviation policies, overseeing of air transportation, airport development and maintenance, provision of aviation infrastructural services and other needs.
“To achieve this mandate, the ministry developed an Aviation Road Master Plan which clearly defines what we need to do to achieve our objectives. It is also instructive to state that upon assumption of office, I have reviewed the progress made so far vis-a vis the existing gaps. Accordingly, we are already looking at focus areas which are encapsulated in a five-point agenda.
“They are strict compliance with national laws and regulations; and international obligations, improvement and development of infrastructure for passenger convenience and support for the growth and sustenance of local airline businesses.”
Others are, human capacity development and optimization of revenue generation,” the minister stated.
Keyamo further stated that the National Bureau of Statistics (NBS), revealed that the aviation sector contributed 4% to the nation’s economy in 2022.
“Indeed, an efficient air transport contributes to economic growth and development. Data from the National Bureau of Statistics (NBS) shows that the Aviation Sector has contributed about N117 billion which is 4% to the National GDP in the first quarter of 2022; it supports about 200,000 jobs and pays about N8.5 billion in tax annually. It is a feat and we are committed to upscaling the achievement by latching on the Renewed Hope Agenda of President Bola Ahmed Tinubu.”
The Nigerian Aviation Industry is going through a new round of transformation and adjustment. To actualize the 5-point Agenda for the growth of the Nigerian Aviation value chain, the Ministry is looking forward to a new phase of partnership and collaboration, by leveraging the immense opportunities in the sector to attract Foreign Direct Investment (FDI) and Joint-Venture Partnerships with heads of international economic organisations, presidents of transnational corporations and principals of leading privately-owned enterprises.
