Festus Keyamo, the Minister of Aviation and Aerospace Development, has announced the Federal Government’s ambition to transform Nigeria into Africa’s leading aviation hub. This proclamation was made during the Seventh Aviation Africa Summit and Exhibition 2023 held in Abuja.....KINDLY READ THE FULL STORY HERE▶

Keyamo outlined the government’s commitment to achieving this goal by addressing various challenges within the aviation industry to attract foreign investment….CONTINUE READING

Initiatives include the establishment of aircraft leasing companies, aircraft maintenance organizations, ensuring forex availability, and offering tax incentives to bolster the aviation sector in Nigeria.

Keyamo highlighted specific measures to enhance the aviation industry, including the upgrading of the CAT III landing system at major airports, the construction of a second runway in Abuja, airport improvement projects through concessions, and collaboration with companies to transform major airports into aerotropolises.

The government also welcomes investments from prominent players in aircraft leasing and head lessors to introduce state-of-the-art aircraft into Nigeria’s airline industry.

Keyamo emphasized the importance of enforcing contract agreements and protecting the rights of investors, as Nigeria is a signatory to the Cape Town Convention, which upholds international obligations.

The Minister identified the Maintenance, Repair, and Overhaul (MRO) facility as a critical component that could elevate Nigeria’s aviation industry to continental prominence.

He expressed the government’s willingness to provide support for the establishment of a world-class MRO facility and training organization.

Additionally, Keyamo addressed the issue of fluctuating foreign exchange and assured entrepreneurs of the government’s commitment to ensuring the availability of forex through regular meetings with the Central Bank of Nigeria (CBN).

In summary, the Nigerian government is determined to overcome challenges and create an environment conducive to making Nigeria the aviation hub of Africa.