Aviation’s $1.7bn Impact on Nigeria’s Economy Underscores Importance

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The Federal Airports Authority of Nigeria on Friday said that aviation now contributes 1.7 billion dollars to Nigeria’s Gross Domestic Products.

‎The Managing Director of FAAN, Mrs Olubunmi Kuku, said that the contribution was a testament to the efficacy of market-driven solutions in Nigeria’s aviation industry.

‎Kuku made the remarks at a book launch, with the title: “100 Years of Civil Aviation in Nigeria”, authored by Mr Wole Shadare, in Lagos.

‎She said that the milestone was achieved as a result of private sector involvement in the aviation industry.

‎“Upon Nigeria’s attainment of independence in 1960, we were faced with a pivotal question: How could we convert colonial-era infrastructure into a sovereign aviation powerhouse?

‎“Our national carrier, Nigeria Airways, emerged as a response, yet it soon faced challenges stemming from mismanagement and operational inefficiencies. By the early 2000s, we found ourselves at a crossroad – adapt or risk obsolescence.

‎“This juncture precipitated a remarkable transformation. The private sector took the initiative, introducing fresh capital, contemporary management practices, and a competitive spirit,” Kuku said.

‎She said that companies such as Air Peace and Arik Air did not merely fill the void, but they revolutionised the aviation landscape.

‎“The current figures sum up this transformation: 39 certified airline operators, 31 airports nationwide, over 2,100 licensed pilots, a workforce comprising thousands, ranging from engineers to air traffic controllers.

‎“Nigeria has emerged as a testament to the efficacy of market-driven solutions. Our aviation sector now contributes approximately 1.7 billion dollars to our GDP.

‎“Private airlines are connecting our cities with unprecedented efficiency, and international carriers increasingly regard Nigeria as a critical market,” the FAAN boss said.

‎She disclosed that over 16 million passengers traversed Nigeria’s domestic terminals, while international passenger numbers exceeded 3.5 million.

‎Kuku said that the figures were impressive, yet there remained substantial potential for growth.

‎“While challenges persist, infrastructure deficiencies; regulatory frameworks; and financing requirements; these should be perceived not as obstacles, but rather as opportunities.

‎“Each challenge facing our aviation sector represents a potential investment awaiting realisation.

‎“The forthcoming chapter of Nigerian aviation will be authored by those who recognise that our skies are not merely thoroughfares for aircraft, they are highways to prosperity,” she said.

‎According to her, the inquiry is not whether to invest in Nigerian aviation, but rather, how to engage in this transformative journey.

‎Speaking on the book, she said Shadare provided a perspective to comprehend how far the sector had advanced, as well as an examination of the flight path ahead.

‎“The industry and commitment he has exhibited as a journalist are evident throughout this book that we all convened here to celebrate,” Kuku said.

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