By Faith Yahaya and Kelvin Osa Okunbor

Nigeria lost   N1.3 trillion last year to neighbouring countries due to the absence of aviation facility investors,  the  Federal Airports Authority of Nigeria (FAAN) has said.

It, therefore, called for measures to entice  Maintenance, Repair and Overhaul (MRO) investors to enhance aviation services, boost revenue and reduce unemployment.

FAAN’s  Managing Director,  Rabiu Yadudu made this known at a conference where Aviation Minister Hadi Sirika announced that the Federal Government would soon hand over the country’s airports to the private sector due to its lack of expertise in managing them.

In the same vein, Sirika told participants at the maiden national aviation conference in Abuja that the Federal Government would take over state-owned airports like  Kebbi, Dutse, Bauchi, and Gombe “for a very good reason.”.

The theme of the conference was  ”Advancing the frontiers of possibilities for safe, secure and profitable air transport”.

The FAAN boss, who lamented what he called the nation’s  ”grossly underutilised” air transport industry, said the government could rake in huge revenue from the sector because Nigeria currently has the highest number of aircraft in the sub-region.

He also spoke of the link between air transportation and tourism and listed the United Kingdom,  France and the United Arab Emirates as some countries earning huge incomes from such relationships.

Yadudu said: “Our potential and capacity in the global air transport industry is grossly underutilised. If we are desirous of attaining the status of a major player in the global aviation sphere, this is the time to reposition and move the industry forward.

“The focus is on Nigeria because we have the largest fleet of aircraft within the subregion. As of 2021, it was reported that Nigeria lost about N1.25 trillion in MRO investments to neighbouring countries.

Read Also: Runway repairs: No plan to divert flights, says FAAN

“Having such investments here would have created more employment opportunities for Nigerians, revenue generation and training of technical personnel for maintenance of aircraft.

“The interlink and value chain between the air transport, tourism and hospitality industry for economic growth cannot be overemphasised.

“Today, the Eiffel Tower in Paris, London Bridge, Dubai Mall, Burj Khalifa, and the British Museum in the United Kingdom have all been consciously developed into major tourist attractions that drive passenger traffic to those destinations and by implication attract businesses and generate employment for the locals and foreigners alike.”

Aviation  Minister  Sirika noted that the aviation industry has a lot of investment potential that is yet to be tapped into.

He also said the key components of the aviation roadmap would be implemented before the end of the Muhammadu Buhari administration.

Sirika stated that in line with the objectives of the aviation roadmap,  airports in the country would be run by the private sector because the government has no expertise in running them.

The minister said: “As of the last count, we have about 43 airports. Some are airstrips but so long as it is a landing and take-off point well designed for the purpose of aviation, military or civil, we consider their airports. Some of them are private and some are state-owned but the majority of them are owned by the Federal Government.

“Those in the state are also being taken over by the Federal Government. Airports like Kebbi, Dutse, Bauchi, Gombe and the rest of them and we are doing that for a very good reason.

“People have been questioning why the federal government is taking over state-owned airports. It is government to government and the wisdom behind it will be well explained later.

“We are convinced that it is the right way to go. However, it will eventually turn into the private sector because the roadmap being implemented by the federal government is such that everything airport will be owned and run by the private sector for more efficiency and value for money. People will now own it, we also strongly believe that government has no business in business.”

On when the roadmap would be actualised, he said: “We are determined to pursue the actualisation of every component of the roadmap. Some of the key elements like the national carrier, MRO, airport concessions, and aviation leasing company have reached advanced stages of implementation and all will be concluded before the end of this administration.”

Highlighting the potential in the aviation industry, the minister said: “The aviation sector in Nigeria is a goldmine with lots of potentials waiting to be explored. Our vantage position in terms of regional positioning, population and natural resources has positioned us strategically as continental leaders.

“This country went into recession twice beginning in 2016, the only single source of earning; the oil plummeted from $140 to $30 per barrel and for a long time and in recession.

“We were also unfortunately hit by the COVID-19 pandemic that also has an impact on the industry in Nigeria. Regardless, aviation during the period of President Buhari, 2015 till date has grown”.

He continued: “The first four years saw the increase in passenger number from eight to 18million and aviation became the fastest growing industry. Even with COVID-19, it is now the third fastest-growing economy.

“In this country today, the rate of return on investment is 34 per cent and our four airports, for now, are being designated as a free zone for ease of business.

“Whether you are a foreigner or a Nigerian, we want to assure you that an aviation sector is a place where you can put your money and you will not lose.”