Aviation industry will provide services to 300 million people in 2025 against 25 million people in 2015 – AFDB
Abuja – Nigeria’s Vice President of Nigeria, Prof Yemi Osibanjo, has stated that efficient air transport system has the capacity to boost African Gross Domestic Product (GDP), and creates more jobs for the continent in the next few years.
Speaking at the third. ICAO World Aviation Forum in Abuja on Tuesday, Osibanjo said the record of 2017 Aviation service shows that there has been consistent growth in the industry over the past few years.
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“Current forecast indicate that air traffic boarding will double in the next 15 years capitalised by 4.6 percent annual growth rate for passenger services. The total economic impact of the direct and indirect inter-tourism connect of the global aviation input will reach $2.7 trillion and 3.5 percent of the world GDP in 2014”.
He noted that “air transport industry also supported the total of 2.7 million jobs globally” tasking stakeholders to tackle challenges facing the sector “in preparation of air transport growth in the next 15 years,” he charged.
Osibanjo said the government of Nigeria will give sufficient support to the aviation sector in order to boost the growth and efficiency of the industry. “We have begun the concession of our airports with the objective of bringing in more capable hands to help the growth of the sector,” he stated.
The country’s Minister of State for Aviation, Hadi Sirika, stated at the forum that “the theme of this years Forum, ‘Financing the Development of Aviation infrastructure’ could not have been more apt considering the infrastructure deficit facing the aviation sector not only in Nigeria but in most part of the world. According to the Nigeria Integrated infrastructure Masterplan (NllMP), US$775bn is required to develop Nigeria’s transportation infrastructure over the next 30 years. Along the same line, the African Development Bank (ADB) estimates US$35bn by the year 2020”.
Sirika charged stakeholder to seize the challenges and used them as opportunities, “l appraise you with the excellent business opportunities in the Aviation Sector in Nigeria as it is strategically located In the Gulf of Guinea, equidistant from most locations in Africa.”
“Nigerian market serves the West and Central African region with a population of 600 million people. Notwithstanding this potential, It is sad to admit that there is the absence of a strong Air Carrier. 3 major Maintenance Repair and Overhaul (MRO) Centre, an efficient world-class airport, or even a significant catering company in Nigeria is positioned to take advantage of this opportunity. I strongly believe that Nigeria is the place to put your money, not only because we moved up 24 places in ease of doing business recently but more so because the Rate of Return on investment is 34%. one of the highest in the world,” he said.
On his part, the president of African Development Bank (AFDB), Dr Akinkumi Adesina said the aviation sector is importing “as it opens up doors for investment in any nation or continent”. Adding that the industry will provide services to 300 million people in 2025 against 25 million people in 2015.
He, however, lamented on the high cost of air travel in Africa, noting that, air passengers pay higher on air tickets within and outside Africa compare to air tickets in UK or USA at the same distance.
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The International Civil Aviation Organisation (ICAO) was established in 1944 as a specialised agency of the United Nation (UN) by states (with 192 members). This is the first time the Organisation is holding the world aviation forum outside of Montreal, its headquarters in Canada.
