For the easy sustainability of the country’s aviation sector, the minister of Aviation and Aerospace Development, Mr Festus Keyamo and other key players have identified innovation funding models, including concession, joint ventures and the setting of a development fund as the only way to achieve the goal. The minister who was represented by the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs Olubunmi Kuku argued that for the sector to improve there is an urgent need to enhance capacity through strategic partnership of private sector players. According to Kuku, there is a need to review the funding models to pave the way for concession, joint ventures and other interventions that will boost private sector investment. The present efforts by the Minister to engage aircraft manufacturers and aircraft leasing companies according to Najomo has engendered more confidence for Nigerian operators. He canvassed the liberalization of air transport policies, relaxed regulatory restrictions to attract private sector investment into the sector.

Source: Nigerian Tribune October 09, 2024 17:19 UTC