Nigeria lost N1.25trn in 2021 to other African countries -FAAN – The Sun Nigeria

By Chinelo Obogo

The The Federal Airports Authority of Nigeria (FAAN) revealed that Nigeria had lost at least $2.5 billion (about 1.25 trillion naira) on aircraft maintenance to foreign maintenance facilities, repair and overhaul (MRO) in 2021.

Speaking on Tuesday in Abuja at the inaugural National Aviation Conferences (FNAC) organized by FAAN on the theme: “Advancing the Frontiers of Possibilities for Safe, Secure and Cost-Effective Air Transport”, the Chief Executive Officer of FAAN , Captain Rabiu Yadudu, said such capital flight would have been avoided if the country had viable MRO facilities that can adequately cater to all types of aircraft.

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To generally perform the C-check on the Boeing 737 or its other aircraft in its category, the airlines spend at least $1.8 million and the C-check is performed on the planes every 18 months. It should be noted, however, that airlines like Aero Contractors and 7Star have MROs.

Yadudu said Nigeria’s potential in the global airline industry is underutilized as Nigeria has the largest aircraft fleet in the sub-region.

He said: “Nigeria has been reported to have lost $2.5 billion (about N1.25 trillion) in MRO investments in neighboring countries. Having such investments here would have created more employment opportunities for Nigerians, income generation and training of technical personnel for aircraft maintenance.

“The interconnection and value chain between air transport, tourism and the hospitality industry for economic growth cannot be overstated. Today, the Eiffel Tower in Paris, the London Bridge, the Dubai Mall, Burj Khalifa, the British Museum in the UK, among others, have all been consciously developed into major tourist attractions that direct passenger traffic to these destinations and, by implication, attract businesses and generate jobs. for locals and foreigners,” he said.

Yadudu commended Aviation Minister Hadi Sirika, the Permanent Secretary, Directors of the Federal Ministry of Aviation, Senate and House Committee Chairs and other stakeholders for supporting the industry in any time.

Earlier, Sirika in her goodwill message revealed that President Muhammadu Buhari would sign the Civil Aviation Bill passed by the National Assembly anytime from now. He assured that with the President’s assent to the bill, the Nigerian aviation industry would grow rapidly, while more opportunities would also be created for all stakeholders and investors. He pointed out that the roadmap of the aviation industry, as approved by the federal government, was intentionally designed after the model of public-private participation (PPP) with the plan to develop the entire sector. .

He challenged investors to tap into the myriad opportunities in the sector, especially with the 12 hectares of land recently approved for the Federal Capital Territory’s aviation roadmap implementation. (FCT).

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