Nigerian Aviation ripe for investment – Sen. Sirika, Minister of State, Aviation
The Minister of State, Aviation, Senator Hadi Sirika has called on the private sector to key into the attractive high rate of Return On Investment which is in excess of 30% in the aviation sector.
In a keynote address at The International Air Transport Association (IATA) roundtable in Abuja, Senator Sirika said opportunities abound in the proposed concessioning of four international airports, establishment of a National Carrier, Maintenance, Repair and Overhaul (MRO) Centres, Aviation Leasing Company (ALC) and Development of Agro-cargo Terminals amongst others.
According to him “Nigeria is strategically located in the Gulf of Guinea with a population of 173million people and accounts for 47% of West African Population.”
He added that Nigeria, sitting graciously on the mid-belt of Africa, serves the West and Central African Markets with a captive population of 600 million people providing huge business opportunities.
He assured stakeholders that the Federal Government has put measures in place to address challenges of Foreign Exchange remittance, Cost and availability of Aviation fuel as well as high cost of aircraft maintenance.
IATA’s Regional Vice President for Africa and the Middle East, Hussein Dabbas, in his address, stated that Africa is set to be one of the fastest-growing aviation regions over the next 20 years, with annual expansion averaging nearly 5 per cent, adding that this opens up incredible economic opportunities for the continent’s 54 nations.
The event with the theme, “Driving African Economies through the Power of Aviation,” attracted major decision makers and stakeholders in the African region including the Permanent Secretary, Ministry of Transport, Sabiu Zakari, the Director General of the Nigerian Civil Aviation Authority, NCAA, Captain Muhtar S. Usman, the Managing Director of the Federal Airports Authority of Nigeria, Engr Saleh Dunoma, the Deputy Regional Director of ICAO, Mr. Gaoussou Konate and the Secretary General of the African Civil Aviation Commission (AFCAC), Ms. Iyabo Sosina.
