The Minister of Aviation and Aerospace Development, Festus Keyamo, has expressed federal government readiness to turn the country’s aviation sector around.
Keyamo made this known in Abuja on Wednesday at the Seventh Aviation Africa Summit and Exhibition 2023.
The minister said the Tinubu-led government would develop the aviation sector by addressing menace in the industry to woo foreign investors.
“The government is already looking at aircraft leasing company, aircraft maintenance organisation, forex availability, and tax holidays to improve the aviation business in Nigeria.
“This includes upgrading the CAT III landing system at major airports, construction of the second runway in Abuja, airport improvement programmes through concessions, and government’s willingness to partner with companies to turn major airports into aerotropolis.
“The government welcomes major players in aircraft leasing and head lessors to invest in Nigeria airlines to provide state-of-the-art aircraft,” he said.
Keyamo gave assurance that the current administration would enforce contract agreements and the rights of investors.
He furthered that the agreements would benefit all parties since Nigeria is a signatory to the Cape Town Convention, which upholds international obligations.
The minister maintained that the Maintenance, Repair and Overhaul (MRO) facility would bring critical developments to the Nigerian aviation.
“With the shortage of qualified engineers, the current administration is willing to provide all the necessary support for the establishment of a world-class MROS and training organisation. The current administration is aware that one of the setbacks entrepreneurs have suffered in Nigeria in recent years is the fluctuation of foreign exchange and its availability.
“This administration is committed to ensuring that forex is readily available to entrepreneurs, and I have directed that the Central Bank of Nigeria (CBN) hold quarterly reconciliation meetings with a view to resolve this issue,” he said.
