Mr Festus Keyamo, the Minister of Aviation and Aerospace Development, has urged global financiers to invest in the concession of Murtala Muhammed and Nnamdi Azikiwe International Airports in Lagos and Abuja, respectively.
The News Agency of Nigeria (NAN) reports that the The minister spoke on Monday – yesterday, January 13 – at the oinging Airline Economics Growth Frontiers Global, which kicked off Sunday, January 12 and will end tomorrow, January 15, in Dublin, Ireland.
Part of Airline Economics Week, the event focuses on the latest developments and trends in the global aviation industry, with a particular emphasis on the finance and leasing of aviation assets.
Keyamo assured that the Nigerian government has implemented streamlined policies to create an enabling environment for investors to concession the nation’s airports.
“Initiated measures to reduce operational bottlenecks, including reviewing airport concession agreements to improve efficiency, have been put in place,” he said.
The Minister also highlighted the need to expand Lagos and Abuja airports to enhance capacity and passenger experience, stating: “There is a need to expand Lagos and Abuja airports to enhance capacity and passenger experience.”
Noting that the Nigerian aviation sector has experienced significant growth, aligning with the government’s commitment to modernising infrastructure, improving safety and fostering economic growth, Keyamo explained that Nigeria’s Cape Town Convention index, which increased from 49 to 75.5 as a result of recently implemented policies, would help to improve lessor’s confidence in placing leased aircraft in Nigeria.
“We hope that our demonstration of supporting economic growth, with aviation being a key factor, will open arms from the industry,” the Aviation Minister said.
He also explained that the government has created multiple platforms to unify aviation stakeholders and increase the participation of local financing institutions, adding the government has also partnered with airlines, the insurance industry and regional banks to address key issues and implement reforms.
“We have developed and signed a working together agreement – MoU – with Boeing to help with safety improvement, operational efficiency, talent development, infrastructure development and capacity building concerning MRO (Maintenance, Repair, and Overhaul),” he stressed.
A cross-session of Airline Economics Conference participants in Dubin, Ireland…yesterday (Moday, January 13, 2025).
