Stakeholders in the Nigerian aviation industry have canvassed for the establishment of an aviation bank in the country to properly address the multifaceted challenges confronting the sector.
They also challenged the Federal Government to minimise its interference in the running of aviation business in the country.
These were parts of the communiqué reached at the end of the Quarter One Breakfast Business Meeting (BBM) held recently by the Aviation Round Table (ART).
The stakeholders’ position: The communiqué, signed by the President of ART Dr Gabriel Olowo, submitted that the challenges attributable to aviation financing could be frontally addressed through the creation of an aviation bank where all the operators and auxiliary service stakeholders could participate in terms of contributions.
The stakeholders said that through the establishment of this bank, the government should make provisions for single-digit interest loans, stressing that this would be easily accessed by the players.
Besides, the professionals appealed to the government to reduce its involvement in the aviation business, arguing that the government should only provide an enabling environment for investors with maximum monitoring to ensure compliance.
It also said that the Nigerian Civil Aviation Authority (NCAA) should ensure effective enforcement of the industry standards by investors.
- “The session advocated minimal government involvement in the aviation business in Nigeria. It opined that government participation is limited to the creation of an enabling environment, and regulatory duties for private-sector businesses to thrive.
- “To this end, the CAA is required to ensure the effective enforcement and oversight of the economic regulations in accordance with global standard recommended practices. The focus of the aviation sector in Nigeria should be consumer-centric for consumer satisfaction,” the association said.
More demands by ART: The body also opined that in line with global best practices, aviation services should be declared as essential services by the government, stressing that through this declaration, much attention would be placed on the sector.
Besides, it said that to ensure transparency in the execution of public policy, extant bureaucratic bottlenecks were to be curtailed by the government, adding that the sector should be oriented to drive tourism for the overall economic development of Nigeria.
- “Aviation remains a veritable catalyst for the profitable hospitality industry and the generation of foreign currency as revenue for the Nigerian aviation sector. Rail projects should be linked to airports in order to enhance multimodal transportation,” the communiqué added.
What you should know: The body also called for the harmonization and utilization of aviation-related data in planning policies to ensure accuracy and avoid conflicting data from various government ministries, departments and agencies.
It also canvassed for deliberate efforts to build strong institutions rather than strong individuals as presently observed.
Rather, ART said preference should be given to competence and professionalism in the appointment of directors to various government agencies in the sector and allied departments.