The Minister of Aviation and Aerospace Development, Festus Keyamo, has outlined three strategic roadmaps for the Nigerian aviation industry. Speaking at the 7th Aviation Summit in Abuja, Keyamo emphasized the importance of these priorities for the development of the aviation sector.
Aerotropolis Development: Keyamo highlighted the significance of developing aerotropolis projects. These are urban areas, often situated around major airports, designed to maximize economic, business, and tourism opportunities. Aerotropolis development aims to create vibrant, integrated communities centered around airports, promoting economic growth and connectivity.
Maintenance, Repair, and Overhaul (MRO) Facilities: The minister expressed concern that West African countries lack world-class MRO facilities. MRO facilities are essential for the maintenance and repair of aircraft, ensuring they are safe and airworthy. Keyamo pledged that Nigeria would lead in establishing high-quality MRO facilities to serve both domestic and international aviation needs.
Aircraft Leasing Company: Keyamo identified the establishment of an aircraft leasing company as another critical priority. Aircraft leasing plays a vital role in the aviation industry, enabling airlines to access modern and fuel-efficient aircraft without the high initial purchase costs. Developing a domestic aircraft leasing company can enhance the country’s aviation industry by providing carriers with more flexible and cost-effective options for fleet expansion and renewal.
Additionally, Keyamo acknowledged the long-standing issue of trapped funds belonging to foreign airlines operating in Nigeria. These funds have been a source of tension and crisis within the aviation sector for nearly two years. The minister issued an apology to foreign airlines affected by this issue and expressed a commitment to resolve it.
Keyamo’s announcement underscores the Nigerian government’s efforts to enhance the aviation industry’s infrastructure and address longstanding challenges, ultimately promoting growth and development in the sector.