Aviation Round Table canvasses policies' review for sector's growth
Aviation Round Table canvasses policies' review for sector's growth
Highlighting the sector’s existential challenges, the ASRTI listed them to include: high airfares and dwindling patronage, Onitiju outlined several policy recommendations aimed at rescuing the aviation sector from collapse:
ASRTI made this call at its Quarter 3 Business Breakfast Meeting in Lagos, with the theme : ' Implications of the Cape Town Direction on the Fortunes of Nigerian Airlines", where stakeholders and industry veterans gathered to address critical challenges plaguing Nigeria’s aviation sector.
In his welcome address, ASRTI President, Ademola Onitiju said the government should adopt deliberate policies to create an enabling environment for the industry, including discriminatory exchange rates for maintenance, aircraft spare acquisition, and ground handling equipment.
He also called for exemption of local refineries producing Jet A1 fuel from taxation and incentivised production to reduce costs for domestic operators. Onitiju emphasised that aviation fuel, which accounts for 45 per cent of operational expenses, must be made affordable.While calling for a single digit lending rate, he called for the establishment of an Aviation Finance Bank to provide low-interest loans, enabling growth and competitiveness of local airlines.
On human capital development, he urged the government to provide the Nigerian College of Aviation Technology (NCAT) with resources to train professionals and address talent shortages in the sector.
Concerning public service obligation, he called for the introduction of policies to make underserved regions accessible by air, fostering national connectivity.
He canvassed a regime for operational charge waivers, urging the government to suspend aeronautical and navigational fees for 24 months to reduce operational costs and stimulate growth among local airlines.
Addressing emerging trends and challenges, Onitiju called for the adoption of advanced technologies, such as drones and electric vertical take-off aircraft, to modernise Nigeria’s aviation landscape.
He also emphasised the need to prioritise cybersecurity to protect the sector from GPS disruptions and enhance safety.
Concerning public service obligation, he called for the introduction of policies to make underserved regions accessible by air, fostering national connectivity.
He canvassed a regime for operational charge waivers, urging the government to suspend aeronautical and navigational fees for 24 months to reduce operational costs and stimulate growth among local airlines.
Addressing emerging trends and challenges, Onitiju called for the adoption of advanced technologies, such as drones and electric vertical take-off aircraft, to modernise Nigeria’s aviation landscape.
He also emphasised the need to prioritise cybersecurity to protect the sector from GPS disruptions and enhance safety.
The ASRTI President stressed the importance of institutional governance, urging the Federal Government to inaugurate boards for all aviation agencies to ensure transparency and accountability.
“Institutions are the backbone of every society. Strengthening them is pivotal to ensuring ethical corporate governance within the aviation sector,” he stated.
He urged President Bola Tinubu’s administration to address inflationary pressures and adopt protectionist policies in the national interest.
“Political will is the key to actualising these reforms. Aviation remains a catalyst for economic growth, tourism, and national development,” he said.
“Institutions are the backbone of every society. Strengthening them is pivotal to ensuring ethical corporate governance within the aviation sector,” he stated.
He urged President Bola Tinubu’s administration to address inflationary pressures and adopt protectionist policies in the national interest.
“Political will is the key to actualising these reforms. Aviation remains a catalyst for economic growth, tourism, and national development,” he said.
He lauded recent strides in sector reforms but urged comprehensive measures to ensure sustainability and growth.
Onitiju underscored the importance of such engagements in shaping the future of aviation in Nigeria.
He said : “Today’s discussion on the implications of the Cape Town Convention Practice Directions on Nigerian airlines and the economy is another step in advancing the frontiers of knowledge for the sector’s progress."
The ASRTI President commended the activation of the Cape Town Convention Practice Directions by Justice John Tsoho, Chief Judge of the Federal High Court of Nigeria.
He also acknowledged Minister of Aviation and Aerospace Development Festus Keyamo, for initiating policies that have bolstered investor confidence and facilitated asset recovery for lenders and lessors.
“The implementation of the Practice Directions places Nigeria among nations with efficient judicial systems for aviation asset recovery, boosting credibility in international aviation circles,” Onitiju remarked.
He said : “Today’s discussion on the implications of the Cape Town Convention Practice Directions on Nigerian airlines and the economy is another step in advancing the frontiers of knowledge for the sector’s progress."
The ASRTI President commended the activation of the Cape Town Convention Practice Directions by Justice John Tsoho, Chief Judge of the Federal High Court of Nigeria.
He also acknowledged Minister of Aviation and Aerospace Development Festus Keyamo, for initiating policies that have bolstered investor confidence and facilitated asset recovery for lenders and lessors.
“The implementation of the Practice Directions places Nigeria among nations with efficient judicial systems for aviation asset recovery, boosting credibility in international aviation circles,” Onitiju remarked.
“Climate change, carbon emissions, and artificial intelligence in aeronautical management demand urgent attention. These issues, coupled with rising inflation and volatile exchange rates, threaten the sector’s survival,” he warned.
In his presentation, President of Topbrass Aviation, Captain Roland Iyayi noted that the government needs to be intentional in its policies to drive the growth of indigenous carriers.
He said policies that target operators, such as setting an age limit for aircraft to be brought into the country will create more problems for the growth and development of the sector.
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