The Minister of Aviation and Aerospace Development, Festus Keyamo, has announced the government’s proactive measures to support Nigerian airlines in overcoming challenges hindering their international operations.Minister Festus Keyamo emphasized the commitment of the government to assist domestic airlines in securing competitive long-term aircraft leases and reducing operational costs. These efforts are aimed at fostering a conducive environment for local airlines to thrive and compete effectively in the global aviation industry.
Enhancing Access to Long-term Aircraft Leases
In an interview during the inaugural event for the Air Peace Lagos-London flight, Minister Festus Keyamo highlighted the significance of enabling Nigerian airlines to access long-term leasing agreements at competitive rates. He stressed that this initiative is crucial for enhancing the international presence of domestic carriers and maximizing the benefits of Bilateral Air Service Agreements (BASAs). By facilitating access to modern aircraft through favorable lease arrangements, the government aims to empower local operators to expand their route networks and improve service quality.
Minister Festus Keyamo underscored the disparity in access to aircraft leasing terms between Nigerian carriers and international airlines, pointing out that the latter often enjoy more favorable conditions. He cited statistics indicating that a significant portion of the global aircraft fleet is leased from leasing companies and manufacturers. Recognizing the importance of leveling the playing field,Mr Festus Keyamo emphasized the need for Nigerian airlines to leverage leasing arrangements to enhance their competitiveness on international routes. By addressing this imbalance, the government aims to remove barriers to entry and promote fair competition in the global aviation market.
Minister Festus Keyamo Promises Addressing Challenges and Promoting Fair Competition
Beyond facilitating access to aircraft leases, Minister Festus Keyamo acknowledged the existence of challenges stemming from the politicization of BASAs and unfair practices by some foreign carriers. He emphasized the government’s commitment to addressing these issues and ensuring a level playing field for Nigerian Minister Festus Keyamo reiterated the principles of mutual benefit underpinning BASAs, emphasizing the need for reciprocity and equitable treatment in flight arrangements.
The Minister Festus Keyamo pledged to advocate for the interests of Nigerian carriers in bilateral negotiations and to counter any attempts to undermine their operations. By championing the rights of domestic airlines and promoting transparent regulatory frameworks, the government aims to safeguard the interests of Nigerian travelers and promote the growth of the aviation sector.Mr Festus Keyamo’s assurances reflect a concerted effort by the government to support local airlines in realizing their full potential and contributing to the country’s economic development.
The Nigerian government, through the Ministry of Aviation and Aerospace Development, is taking proactive steps to address challenges hindering the international operations of local airlines. Minister Festus Keyamo’s commitment to facilitating access to long-term aircraft leases and promoting fair competition underscores the government’s dedication to fostering a vibrant and competitive aviation industry. By empowering Nigerian carriers to expand their international presence and ensuring equitable treatment in bilateral agreements, the government aims to enhance the country’s connectivity and strengthen its position in the global aviation market.
Government Support Crucial for Aviation Sector Growth
The call for government support to empower local airlines in Nigeria’s aviation sector has gained momentum in recent months. Industry experts emphasize the significance of sustained government intervention to address the challenges faced by local operators in accessing international routes and maximizing the benefits of BASAs. Minister Festus Keyamo reiterated the importance of stakeholders rallying behind federal government initiatives aimed at enhancing the competitiveness of Nigerian airlines globally.
Furthermore, stakeholders highlight the potential economic benefits that would accrue from empowering local airlines. Beyond the aviation sector, increased international connectivity and competitiveness would spur job creation, boost foreign exchange earnings, and drive overall economic growth in Nigeria. Therefore, there is a consensus among industry players on the critical role of government support in sustaining and strengthening the local aviation sector. By prioritizing policies and initiatives that empower local operators, the government can position Nigerian airlines for success in the global market, with far-reaching positive implications for the country’s economy and development agenda.
Table of Contents
Discover more from OGM News NG
Subscribe to get the latest posts sent to your email.
