Managing Director, EAN Aviation, Olusegun Demuren has revealed that the Nigerian aviation industry contributed $685 million to the country’s Gross Domestic Product, GDP, in 2015.
He made this statement at the Nigerian Business Aviation Conference 2016, held in Lagos.
According to Demurin, business aviation, which comprises of chartered and private jet operators contributed 25 per cent out of the total $685 million the sector contributed in 2015.
He emphasized the need for more operators to come in to the burgeoning business aviation industry.
The Managing Director observed that there is growing interest in the use of private jets and helicopters for Intelligence Surveillance and Reconnaissance, ISC, stressing that the Nigerian Customs Service, NCS, recently acquired a Cessna CJ4 jet for border patrol.
He said some states have acquired up to four Intelligence Surveillance and Reconnaissance (ISC) helicopters.
He said that in 1980s, only 15 business jets were in operation in the country, and in 2006, the number grew to 30 and 150 by 2015.
Demuren said the growth was further propelled by 305 per cent in dollar millionaires seen between year 2000-2005.
He said “Five per cent projected fleet Compound Annual Growth Rate (CAGR).Fifty per cent business aviation fleet is in Nigeria and South Africa.”
