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- Keyamo sets N240 million target from facility
Minister of Aviation, Mr. Festus Keyamo has corrected insinuations that one of the items on his agenda for the sector as regards optimization of revenues by the various aviation agencies does not amount to raising taxes but one that would make the agencies block leakages by raising its financials.
In his keynote address at a Webinar, entitled, “Repositioning the aviation sector for revenue generation and growth: Role of Legislation, the Minister cited an example of the access toll gates at the Murtala Muhammed Airport, Lagos linking both the international and domestic wings of the airport as generating N100 million monthly, stressing that the target was to generate N240 million monthly.
He said after investigation, it was discovered that many users of the toll gates are exempted from toll with the excuse that they are VIPs; the exemption he said would be stopped as all VIPs making use of the facility would now be made to pay including himself.
He further stated that efficient air transport contributes to economic growth and development, adding that data from the National Bureau of Statistics (NBS) shows that the aviation sector has contributed about N117 billion which is 4% to the National GDP in the first quarter of 2022, supporting about 200,000 jobs and pays about N8.5 billion in tax annually.
He said it is a feat they are committed to up-scaling the achievement by latching on to the Renewed Hope Agenda of President Bola Ahmed Tinubu.
“I have reviewed the progress made so far vis-a-vis the existing gaps. Accordingly, we are already looking at focus areas which are encapsulated in a five-point agenda namely strict Compliance with national laws and regulations; international obligations, improvement, and development of infrastructure for passenger convenience, support for the growth and sustenance of local airline businesses, and human capacity development, and optimisation of revenue generation.”
“As the Minister of Aviation and Aerospace Development, I am deeply committed to this agenda. In these challenging times, characterized by evolving market dynamics and global uncertainties, the need to reposition our aviation sector for sustainable growth has never been more pressing. It requires vision, resilience, finances, and collaboration.”
The Nigerian Aviation Industry he admitted is going through a new round of transformation and adjustment, hinting that to actualize the 5-point Agenda for the growth of the Nigerian Aviation value chain, the Ministry was looking forward to a new phase of partnership and collaboration, by leveraging the immense opportunities in the sector to attract Foreign Direct Investment (FDI) and Joint-Venture Partnerships with heads of international economic organizations, presidents of transnational corporations and principals of leading privately-owned enterprises.
Legislation according to Keyamo provides the overarching framework within which the aviation sector operates, reiterating that it is the bedrock upon which, “We build our vision for the industry’s future. Thus, it is incumbent upon our legislators to draft policies that promote growth, encourage investment, and ensure safety and security. The aviation sector is, first and foremost, a safety and security-critical industry.”Google+