Key players tasked FG on need to honour contractual agreements

KEY players across the Nigeria’s aviation sector have called on the federal government to urgently salvage its image regarding perception that it hardly honours contractual agreements on infrastructure, saying this is the only way to re-energize interest in aviation infrastructure investment in the country.

They equally proposed that before embarking on any aviation infrastructure partnership arrangement, that it was necessary to involve non-government stakeholders in affirming the profile of private capital investment promoters to ensure their competence for execution and genuineness.

The key players also advocated a five yearly review of infrastructure related partnership contracts and concession agreements even as they emphasised the need for prompt response to new developments in infrastructure growth without bureaucracies but in compliance with laid down agreements, policies, laws and regulations.

The stakeholders in a communique issued at the end of a seminar on ‘Financing Aviation Infrastructure Deficit in Nigeria Using Private Capital: Challenges and Prospects’ organized by Aviation Safety Round table Initiative (ASRTI) in Lagos, agreed that apart from the need to identify key aviation infrastructure that require urgent intervention, emphasised the need to prioritise them, appropriately, take inventory of areas of aviation infrastructure deficit and respond, using SWOT Analysis

Periodic institutional, legal and regulatory reforms that would accommodate private capital injection in infrastructure was also suggested the gathering stressed importance of having a suitable financing model, rather than copy just any model without considering suitability for the country’s make-up.

For private capital financing of aviation infrastructure to yield the desired results, participants said human capital had to be deliberately developed, while localization of training, they said needed to be considered by all stakeholders.

The communique also touched on the need to consider adapting the National Transportation Policy recommended by the 2014 National Conference, which provided for integration of road, rail, air and water transportation in aviation infrastructure development planning.

ASRTI, the non governmental body consisting of different aviation professionals was also tasked on the need  to set up an advocacy group to encourage commercial banks to develop the willingness to invest in aviation infrastructure with a call for synergy between ASRTI and Central Bank of Nigeria (CBN) to address issues of interest rate and long term investment banking in the aviation industry.

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