Aviation's contributions to Nigeria's GDP valued at $1.7bn - FAAN

By emmanuel MALAGU

The Federal Airports Authority of Nigeria (FAAN) said that Aviation now contributes $1.7bn to Nigeria’s Gross Domestic Products (GDP).

The Managing Director of FAAN, Olubunmi Kuku, said that the huge contribution was a testament to the efficacy of Market-Driven Solutions in Nigeria’s Aviation Industry.

Kuku made the Remarks at a Book Launch, with the Title: “100 Years of Civil Aviation in Nigeria”, Authored by Wole Shadare, in Lagos.

She said that the milestone was achieved as a result of Private Sector Involvement in the Aviation Industry.

“Upon Nigeria’s attainment of Independence in 1960, we were faced with a pivotal question: How could we convert Colonial-Era Infrastructure into a Sovereign Aviation Powerhouse?

“Our National Carrier, Nigeria Airways, emerged as a response, yet it soon faced Challenges stemming from Mismanagement and Operational Inefficiencies. By the early 2000s, we found ourselves at a crossroad – adapt or risk obsolescence.

“This juncture precipitated a remarkable Transformation. The Private Sector took the Initiative, introducing fresh Capital, Contemporary Management Practices, and a Competitive Spirit,” Kuku said.

She said that Companies such as Air Peace and Arik Air did not merely fill the void, but they revolutionised the Aviation Landscape.

“The current figures sum up this Transformation: 39 Certified Airline Operators, 31 Airports Nationwide, over 2,100 Licensed Pilots, a Workforce comprising thousands, ranging from Engineers to Air Traffic Controllers.

“Nigeria has emerged as a Testament to the efficacy of Market-Driven Solutions. Our Aviation Sector now contributes approximately $1.7bn to our GDP.

“Private Airlines are connecting our Cities with unprecedented efficiency, and International Carriers increasingly regard Nigeria as a Critical Market,” the FAAN Boss said.

She disclosed that over 16 million Passengers traversed Nigeria’s Domestic Terminals, while International Passenger Numbers exceeded 3.5 million.

Kuku said that the figures were impressive, yet there remained Substantial Potential for Growth.

“While Challenges persist, Infrastructure Deficiencies; Regulatory Frameworks; and Financing Requirements; these should be perceived not as Obstacles, but rather as Opportunities.

“Each Challenge facing our Aviation Sector represents a Potential Investment awaiting realisation.

“The forthcoming Chapter of Nigerian Aviation will be authored by those who recognise that our Skies are not merely Thoroughfares for Aircraft, they are Highways to Prosperity,” she said.

According to her, the Inquiry is not whether to invest in Nigerian Aviation, but rather, how to engage in this Transformative Journey.

Speaking on the Book, she said Shadare provided a perspective to comprehend how far the Sector had advanced, as well as an Examination of the Flight Path ahead.

“The Industry and commitment he has exhibited as a Journalist are evident throughout this Book that we all convened here to celebrate,” Kuku said.

Credit NAN: Texts excluding Headline