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Following the slow recovery of the aviation sector from the COVID-19 pandemic and the socio-economic challenges plaguing the sector, stakeholders in the Nigeria aviation sector yesterday, converged on Lagos to chart a new way forward for the sector.
“The current economic situation, foreign exchange scarcity, rising inflation, and inadequate infrastructure are factors that are plaguing the sector. To chart a new direction for the sector, all stakeholders have a role to play,” Osayaba Giwa-Osagie, chairman, Nigeria South-Africa Chamber of Commerce (NSACC), said during the October breakfast meeting of the NSACC sponsored by Phillips Consulting to celebrate its 30th anniversary.
Osagie said government must consider stimulus packages to support airlines towards aiding their smooth operations. According to him, there is a need for the government to implement policies and develop infrastructures that will strengthen the sector.
“Also stakeholders should constantly engage the government on ways to reposition the sector to be profitable and competitive. Air operators should adopt creative initiatives to help manage cost and build efficiencies,” Giwa-Osagie said.
According to him, the aviation industry is a veritable tool for income generation and economic development in Nigeria. “The Nigeria Aviation industry has grown in size, capital, investment, safety and quality management system. The sector is fundamental in facilitating trade, investment and tourism.
George Uriesi, the chief operating officer, Ibom Air and guest speaker at the breakfast meeting, said domestic airline operators must be creative in accessing capital. According to him, the airlines need a level playing field to thrive.
Speaking on ‘Aviation in Nigeria: What next? Uriesi said that there is a need for players in the sector to embrace good corporate governance in their day-to-day operation. “We have the market to thrive,” he said.
