Nigeria anticipates 7% growth, banking on 41% rise between 2020 and 2021
By Jeph Ajobaju, Chief Copy Editor
Air travel in Nigeria is projected to grow 7 per cent by 2032, above the global industry forecast at 5.3 per cent.
Federal Airports Authority of Nigeria (FAAN) Commercial and Business Development Director Sadiku Rafindadi made the projection at the National Aviation Conference Investment Forum in Abuja.
He stressed that the aviation industry is pivotal to the socioeconomic growth of Nigeria, noting that domestic and international passenger traffic grew 41 per cent from 9.3 million in 2020 to 15.8 million in 2021.
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241,000 jobs in aviation value chain
Rafindadi cited a study by the International Air Transportation Association (lATA) in June 2020 which highlighted the huge contribution of aviation to the national economy by providing 241,000 jobs, direct and indirect, supported through a supply chain worth $1.7 billion.
He lamented that the Nigerian aviation market is huge, yet untapped, but FAAN plans to harness the opportunities with the 21 airports in its control, according to reporting by The Guardian (Nigeria).
Nigerian aviation seeks to take advantage of African market growth, leveraging its proximity to Europe, the Middle East, and the rest of Africa.
Most of West and Central Africa, which has no clear dominant airline, is within four hours flight from Nigeria.
Rafindadi disclosed that FAAN is changing its business model for a self-sustaining framework through increased private sector participation to reduce financial burden on the government.
FAAN is also maximising its contribution to socioeconomic development through increased tourism, trade and foreign director investment (FDI), focusing on the growth of the agro-allied sector and economic processing zones at designated airports.
Nigeria Civil Aviation Authority (NCAA) Director General Musa Nuhu said 12,000 hectares for the development of Abuja airport provided the Federal Capital Territory Administration (FCTA) is an opportunity for investors to invest in aviation.
He stressed that the Nigerian aviation industry offers several opportunities for investment and the NCAA is working to unbundle regulations to make it easier for investors in all areas, especially in general aviation.
