‘Nigeria remains good infrastructure investment destination’

“With four airports generating 87 per cent of total revenue from 22 airports in Nigeria and a record of about eight million air travelers from over 200 million population, Nigeria remains a good infrastructure investment destination if existing opportunities are properly harnessed.”

This was the position of the key players put together in a communiqué that emanated at the recently held breakfast meeting organized by the Aviation Safety Round Table Initiative (ASRTI) on the topic: ‘Financing aviation infrastructure deficit in Nigeria using private capital: challenges and prospects’.

The key players while emphasizing the need to develop, maintain and modernize aviation infrastructure to attract air traffic growth and more patronage of air transportation, added that apart from innovations in technology, particularly Air Traffic Management, that there was the need for innovations in processes and applications to achieve success in aviation infrastructure development, maintenance and service delivery.

The gathering called on the government to provide enabling environment, reflected in enabling institutional, legal, regulatory, monitoring and evaluation framework for Nigeria’s aviation infrastructure to be developed.

The culture of good corporate governance by all stakeholders was emphasized as a way to tackle the deficit in Nigeria’s aviation infrastructure development.

Participants made case for interest of aviation infrastructure users and service consumers which they said must be on the front burner during decision makings while they should be consulted by private capital providers and government policy decision makers on aviation infrastructure development to avoid retrogressive conflicts both in the process and at completion of such projects.

According to the stakeholders, “Performance reward system for manpower must be in place while training and competence of personnel in aviation infrastructure operations and management should be given priority of place in decision making.

“There is need to improve access to private capital for financing aviation infrastructure by ensuring ease of doing business, access to low interest rate loans, reduction of business risk for investors, access to multilateral financing and long term tenure for debts (10 to 20 years)”.

It was generally agreed that Public Private Partnership (PPP) arrangements on aviation infrastructure must come with investment protective laws and enforceable provisions as well as full disclosure by private capital entrepreneurs to ensure accountability, transparency and confidence in such partnership arrangements.

While calling for consistency in government policies to protect investment in aviation infrastructure, the gathering said access to private capital investment in aviation infrastructure should be encouraged because of its numerous benefits including increased efficiency and quality service delivery in terms of Return On Investment (ROI) and service consumer interest.

“For any infrastructure PPP arrangement to generate the desired benefits, infrastructure investment needs must first, be identified, after which a master plan should be developed with features of a robust cost-benefit analysis, a transparent process, strong oversight, realistic target expectations and infrastructure users’ consultation”.

Among the various speakers at the event are; Dr. Bernard Olumuyiwa Aliu, Nigerian-born former President of the International Civil Aviation Organization (ICAO) cum Founder, International Partners For Aviation Development (IPADS); Prof. Bamidele Badejo of the Department of Geography, Olabisi Onabanjo University, Ago-Iwoye; Mr Femi Adeniji, COO, Tropical/Arctic Logistics; Mrs. Adebimpe Ajimotokan, Head, Corporate Banking, Training/Comm, GTB; Mrs. Adebimpe Ajimotokan, Director, Communication, Industry/Legal Affairs, AFRAA; Mr. Raphael Kuuchi, AFRAA; Mr. Abiola Lawal, CEO, Quorum Aviation and Dr. Gbenga Olowo, President, ASRTI.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

We Have Not Had Water Supply In Months ― Abeokuta Residents

In spite of the huge investment in the water sector by the government and international organisations, water scarcity has grown to become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clean, potable and affordable water amidst the surge of COVID-19 cases in the state.