Nigeria’s Aviation Sector has contributed about 117 billion naira which is 4% to the National GDP in the first quarter of 2022 as it supports about 200,000 jobs and pays about 8.5 billion naira in tax annually.
This according to the minister of aviation and aerospace development, Mr.Festus Keyamo has been confirmed in data from the National Bureau of Statistics (NBS).
Delivering his goodwill message at a webinar on ‘Repositioning The Aviation Sector For Revenue Generation And Growth: The Role Of The Legislation’, an initiative organized by the law firm of Messrs Olisa Agbakoba Legal (OAL), which Keyamo said addressed one of the priority areas of the administration of President Ahmed Bola Tinubu, the minister described the aviation sector as not just an industry; but as a vital lifeline connecting nations, enabling trade, fostering tourism, and driving economic growth.
While describing the theme of the webinar as apt and timely especially now that discussions are taking place in a number of fora on how best to use public policy to harness National potential for growth and development, most especially in the Aviation Industry in Nigeria, Keyamo pledged the commitment of the government towards upscaling the achievement by latching on the Renewed Hope Agenda of The Tinubu led government.
Keyamo listed his for the sector to include; 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 the mandate, Keyamo who said the ministry has developed an Aviation Road Master Plan which clearly defines what needs to be done to achieve the objectives, cited how he has 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 namely: Strict Compliance with national laws and regulations; and international obligations. Improvement and Development of Infrastructure for Passenger Convenience.Support for the growth and sustenance of Local Airline Businesses.Human Capacity Development and; Optimization of Revenue Generation.
“As the Minister of Aviation and Aerospace Development, I am deeply committed to this agenda. In these challenging times, characterized by evolving market dynamics and global uncertainties, the need to reposition our aviation sector for sustainable growth has never been more pressing. It requires vision, resilience, finances, and collaboration.”
Calling for a new phase of partnership and collaboration, the minister declared: “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 organizations, presidents of transnational corporations and principals of leading privately-owned enterprises.
Maintaining that legislation provides the overarching framework within which the aviation sector operates, Keyamo added: ” It is the bedrock upon which we build our vision for the industry’s future. Thus, it is incumbent upon our legislators to draft policies that promote growth, encourage investment, and ensure safety and security. The aviation sector is, first and foremost, a safety and security-critical industry. We ensure, through Legislation, that mandatory safety standards provided by the International Civil Aviation Organisation (ICAO) are incorporated into our national laws.
“As such, the role of legislation and indeed legislators in Nigeria’s aviation sector is critical for the development, regulation, and growth of the aviation industry in the country. Legislators (comprising the Senate and House of Representatives) of the National Assembly, play various roles to ensure the sector operates efficiently and contributes to Nigeria’s economic development. They have the authority to allocate budgets and approve funding for aviation projects, including airport construction and maintenance, procurement of equipment, and safety enhancements.
“Ensuring adequate funding is crucial for the sector’s growth and development. Legislators also provide oversight by monitoring the implementation of aviation policies and ensuring that both the Federal Ministry of Aviation and the Nigeria Civil Aviation Authority (NCAA), adhere to regulations and carry out their functions effectively.”
In re-emphasising the unique position the legislators hold in this partnership to ensure that the aviation sector, amongst other sectors, reaches its full potential, the minister described the move to reposition the aviation sector for revenue generation and growth as a collective endeavour, requiring a harmonious partnership between the executive, legislature, and indeed private sector stakeholders.
Nigeria’s signatory to about 29 (Twenty-Nine) International Aviation Treaties and Conventions he said has made it possible to ratify these international Treaties and Conventions.
He stressed the important role of the Legislators in ratifying these agreements, and ensuring that they are domesticated in our national laws, which in effect have significant impacts on international air travel and trade and that Nigeria upholds its international obligations therein.
“We must remember also that a safe and efficient aviation sector is not just an economic imperative but a moral obligation to the millions of passengers who trust our skies every day.”
He used the occasion to encourage the Nigerian private sector to deepen their collaboration with the Ministry for the growth of the Nigerian Aviation Industry even as he expressed the optimism that stakeholders participating in the webinar session will build on their enviable track records to come up with appropriate strategies for Repositioning the Aviation sector for revenue generation and growth through the instrumentality of legislation.
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