The Minister of Aviation and Aerospace Development, Festus Keyamo, has unveiled the Federal Government’s ambitious plan to establish Nigeria as the foremost aviation hub on the African continent.
The Minister disclosed this in Abuja, during the Seventh Aviation Africa Summit and Exhibition 2023 on Wednesday.
Keyamo emphasized the administration’s dedication to addressing challenges within the aviation sector to attract foreign investors.
Key initiatives include fostering aircraft leasing companies, enhancing aircraft maintenance organizations, ensuring forex availability, and providing tax incentives to bolster the aviation industry.
Additionally, the government plans to upgrade the CAT III landing system at major airports, construct a second runway in Abuja, and implement airport improvement programs through concessions.
Furthermore, the government is keen on collaborating with companies to transform major airports into aerotropolises.
Keyamo affirmed the government’s commitment to enforcing contract agreements and investor rights, citing Nigeria’s adherence to the Cape Town Convention.
He also highlighted the significance of establishing a world-class Maintenance, Repair, and Overhaul (MRO) facility, noting that the government is prepared to support this endeavor. The government is actively addressing foreign exchange challenges to ensure a conducive environment for entrepreneurs in the aviation sector.