Minister of Aviation and Aerospace Development, Festus Keyamo, has urged legislators to ensure adequate funding of the aviation sector as the sector contributes a lot to the economic growth and the development of the country.
He contended that sufficient budgetary allocation to the sector would further enhance its efficient performance and contributions to Nigeria’s economic development.
In a goodwill message delivered at a webinar with the theme “Repositioning the Aviation Sector for Revenue Generation and Growth: The Role of Legislation”, he noted that the aviation sector is more than just an industry as it serves as vital lifeline connecting nations, fostering tourism and driving economic growth.
keyamo said “Legislators have the authority to allocate budgets and approve funding for aviation projects, including airport construction and maintenance, procurement of equipment, and safety enhancements by ensuring adequate funding for the sector’s growth and development.”
Keyamo cited data from the National Bureau of Statistics (NBS) which showed that Aviation Sector had contributed about N117 billion which is 4% to the National GDP in the first quarter of 2022; supported about 200,000 jobs and payed about N8.5 billion in tax annually.
The minister adjudged it as impressive, assuring that the Renewed Hope Agenda of President Bola Ahmed Tinubu is committed to up scaling the achievements.
He enumerated his focus areas encapsulated in a five-point agenda namely: Strict compliance with national laws and regulations; and international obligations; Improvement and development of infrastructure for Passenger convenience; Support for the growth and sustenance of Local Airline Businesses; Human Capacity Development and Optimization of Revenue Generation.
He said, to actualize the 5-point Agenda for the growth of the Nigerian Aviation value chain, the Ministry is looking forward to a new phase of partnership and collaboration, by leveraging the immense opportunities in the sector to attract Foreign Direct Investment (FDI) and Joint-Venture Partnerships with heads of international economic organizations, presidents of transnational corporations and principals of leading privately-owned enterprises.
“Legislators also provide oversight by monitoring the implementation of aviation policies and ensuring that both the Federal Ministry of Aviation and the Nigeria Civil Aviation Authority (NCAA) adhere to regulations and carry out their functions effectively”, he stated
He appreciated the organizer of the webinar event, Messrs Olisa Agbakoba for his commitment, initiative and drive for creating an advocacy platform where contemporary national issues are x-rayed and relevant policy input harvested for national growth.
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