Stakeholders of the Nigerian aviation industry convened during a recent session of the Aviation Safety Round Table Initiative (ASRTI) to discuss the lack of proper infrastructure in the industry, and to propose solutions to the problem.
The meeting which took place during a webinar held on September 30, 2021 had as theme, “Financing Aviation Infrastructure Deficit in Nigeria Using Private Capital”, and featured panellists such as Mr. Raphael Kuuchi, Director, Communication, Industry/Legal Affairs, AFRAA; Mr. Abiola Lawal, CEO, Quorum Aviation; Dr. Olumuyiwa B. Aliu, Founder, International Partners for Aviation Development (IPADS); Mrs. Adebimpe Ajimotokan, Head, Corporate Banking, Training/Communications, GTB; Dr. Gbenga Olowo, President, ASRTI amongst others.
The panelists emphasized that Nigeria is fertile ground for investment in aviation infrastructure, seeing as only four airports out of twenty-two are currently responsible for generating 87% of the industry’s total revenue in a country possessing an exceptionally under traveled public (eight million flyers in a population of over two hundred million people).
With such enormous possibility for growth, it is understandable that the government cannot be solely responsible for the herculean task of closing the infrastructural gap in the industry. For this reason, it was suggested that the process of financing aviation infrastructure through private capital be made easier through improved accessibility to funds, low interest rate loans and provision of reduced business risks for investors.
It was also noted that though it is commendable that the Air Traffic Management sub-sector has seen a boost in technology innovation in recent years, such modernization should be experienced in infrastructure as well in order to enable effective monitoring and regulation of all infrastructure put in place.
The panelists went further to call on the government to be proactive in creating policies that are consistent in order to protect investments in aviation infrastructure; to honour contractual agreements and to avoid politicizing aviation infrastructure investment ventures.
Furthermore, in order to boost confidence in Public-Private Partnerships and ensure transparency and accountability, it was proposed that such agreements be accompanied by investment protective laws and enforceable provisions to the benefit of all parties involved.
These and many more suggestions were tabled during the webinar – suggestions brought forward with the aim of developing, modernizing and maintaining aviation infrastructure for the improvement of working conditions, customer satisfaction and ultimately air traffic and revenue.
