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‘Aviation industry contributes N137.9b to GDP’

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ncaa-airport-aviationTHE Nigerian commercial aviation industry has contributed about $0.7 billion (N137.9 billion) to the Nigerian Gross Domestic Product (GDP), and projected investment of $12 billion in the short and medium term that would lead to passengers’ growth, between 12 and 25 million by 2018.

Additionally, the industry data revealed that Nigeria’s passenger traffic for inbound and outbound destinations soared to 21 million in 2014, surpassing the 2013 record by over 20 per cent.

According to the Head, Aviation Finance for Africa at Investec, Melanie Humphries, “There has been tremendous economic growth in Nigeria and with the increase in wealth and the expansion of trade and business opportunities, the demand for business travel has also expanded”.

He added: “The primary reason is that business aircraft are a necessary tool for many high net worth individuals and corporates that do business in and around Africa. Poor regional connectivity and limited infrastructure means that air travel is still the preferred mode of transport for passengers and cargo – presenting an opportunity for the aviation industry in Nigeria and Africa as a whole.

“In fact, business jets in Africa, and the access, predictability and passenger safety they provide, are playing a critical role in realising the continent’s growth potential.”

Furthermore, he stated that the African business aviation market has been resilient through the global financial crisis and new aircraft sales fared better than developed markets such as Europe and North America.

He said: “Demand for business aircraft is highly correlated to wealth creation, which of course is dependent on economic growth. The African fleet has more than doubled since 2000 and now comprises around 2.4 per cent of the world corporate jet population and as business jets are increasingly being seen as an productive business tool, the long-term prospects for business aviation remain strong”.

According to the statistics, Africa’s business jet fleet has more than doubled in the last 10 years, noting that Africa’s two largest business aircraft registries, South Africa and Nigeria, account for over 50 per cent of the entire fleet of business aircraft in all of Africa.

Also, it projected that between 2014 and 2033, 685 business jet deliveries are expected in this region, with a fleet compound annual growth rate (CAGR) of 5 per cent over the forecast period.

It disclosed that commercial air transport supports 6.9 million jobs and $80.5 billion in GDP in Africa, while it forecasted that the number of jobs supported by aviation and tourism would grow to 10.5 million by 2032, a 51 per cent increase. Moreover, the contribution to GDP is forecast to grow to $168.7 billion by 2032, a 109 per cent increase on 2012 figures.


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1 Comment
  • Adefila Johnson Gbenga

    AVIATION EXPERT
    CAPTAIN FOLA AKINKUOTU SUGGESTED AS MINISTER

    TO GENERAL MUHAMMADU BUHARI (Rtd)
    PRESIDENT ELECT

    Dear Editor,

    I write to suggest the above man as a minister. He is
    intelligent humble and incorruptible. He has worked in the aviation Industry
    for 42 years. A technocrat per excellence, he was unjustly fired by outgoing
    president Goodluck Jonathan after the bullet proof car scam of Mrs Stella Oduah
    broke out. He barely spent 8 months out of his 5 year term confirmed by the
    senate. He has faced senate and house of Reps and was cleared because he hasn’t
    assumed office when the contract was carried out. He will handle the aviation
    Industry professionally

    PROFILE OF CAPTAIN FOLA AKINKUOTU

    Director General

    Nigeria Civil Aviation Authority

    August 2013 – March 2014 (8 months)Lagos, Nigeria

    RECTOR

    International Aviation College Ilorin Nigeria

    January 2012 – June 2013 (1 year 6 months)Lagos Road, besides Ilorin
    International Airport

    Accountable Manager

    Director International Operations

    Air Nigeria

    2010 – October 2011 (1 year)

    Director of Flight Operations

    Virgin Nigeria Airways

    February 2010 – January 2011 (1 year)Murtala International Airport, Lagos

    Line Captain; Technical Pilot; Training Captain; Training Manager; Type Training
    Examiner B737-300/

    Virgin Nigeria Airlines

    June 2006 – January 2010 (3 years 8 months)Lagos, Nigeria

    Contract Pilot; Training Captain

    ADC Airlines

    April 2004 – April 2006 (2 years 1 month)Lagos, Nigeria

    Managing Director/Chief Operation Officer

    IRS Airlines

    2001 – 2002 (1 year)

    Chief Pilot ; Director Technical Operations

    ADC Airlines

    February 1991 – 2001 (10 years)Lagos, Nigeria

    Pilot

    Kabo Air

    1986 – 1991 (5 years)

    • +Flights

    • +Aviation

    • +Commercial Aviation

    • +Aircraft

    • +Flight Safety

    • +Airports

    • Civil Aviation

    • Flight Planning

    • Flight Training

    • Piloting

    Captain Fola also knows about…

    • Aircraft Maintenance

    • Management

    • Operations Management

    • Strategic Planning

    • Airport Management

    • Airworthiness

    • Aviation Security

    • Ground Instructor

    • IATA

    • Project Planning

    • Management Consulting

    • Aerospace

    • Executive Management

    • Change Management

    • Crew Resource Management

    • Charter

    • Airline Management

    • B737

    • Aviation Industry

    • Aircraft Leasing

    • Recruitment Training

    • Line Maintenance

    • Aircraft Systems

    • Flight Operations

    • Ticketing

    • Business Aviation

    • International Flight…

    • Human Factors

    • Avionics

    • EASA

    • Type Rating

    • Team Building

    • General Aviation

    • Sabre

    • Multi-engine

    • Consultancy

    • Instructing

    • Ground Handling

    • ICAO

    • A320

    Education:He attended NCAT Zaria and Masters at the United States

    He is capable of handling the Nigerian Aviation Industry.Written by Adefila
    Gbenga 08062093269, e-mail gadefila@gmail.com