Business
Stakeholders Seek Investment For Aviation Industry
Aviation stakeholders have urged the Federal Government to encourage airline operators through investing more in the aviation industry.
The stakeholders made the call in Lagos at a conference organised by the publishers of an aviation magazine “Business Traveller Africa (BTA)’’.
The theme of the conference, “Strengthening Business Travel in West Africa’’, according to BTA editor, Mr Dylan Rogers, called on the government to consider partnering with both local and foreign airlines operators to drive the industry forward.
“Aviation business is very big and wide. It’s all about money; government should subsidise and float a National Carrier.
“This will benefit the country and its citizenry. The floating of the carrier will make it more affordable for citizens to fly and have faith in the industry,’’ Rogers said.
He also urged the government to promote the ‘Open Sky’ Agreement in such a way as to enable local airlines compete favourably and give air travellers room for choice.
According to him, the government should focus more on air safety to bring back the confidence of Nigerians in flying, as the recent Dana plane crash had affected local flights.
Also speaking at the conference, the Sales and Marketing Director, ExecuJet, Mr Stephen Paddy, urged the government to provide facilities for smooth operations to encourage investors.
“Local airlines do not have the huge capital to train and retrain their staff, and at the same time, provide facilities that the government should have provided,’’ he said.
Paddy said that airline operators should collaborate with the government to set rules and regulations to govern the aviation industry.
He advised foreign airlines to understand the rules by their host countries, to enable them work better with the people and the government.
In his comment, Mr Tayo Orisadare, a consultant with Knights and Wrights, said government should take local airline operators into consideration in signing Open Sky Agreements.
“The local carriers should be able to operate as best as the foreign airlines. They should be empowered before an Open Sky agreement is operated in a country,’’ he said.
Orisadare also called on the government to provide infrastructure and an enabling environment for local airlines to operate smoothly.
He urged Nigerians not to lose confidence in flying local airlines, saying there was a future for local airlines in Africa.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
-
News4 hours agoRSG Reiterates Commitment To Youth Dev
-
Business2 hours agoNSCDC Discloses Illegal Dump Site In Ikwerre Community
-
News4 hours agoKwankwaso Dumps NNPP, May Join ADC Today
-
Business2 hours agoYenagoa’s Radisson Hotel Ready December — NCDMB, Other
-
Maritime2 hours agoMWUN Raises Alarm Over Port Security Lapses In Lagos
-
Maritime2 hours agoMaritime Workers Demand Reinstatement Of Tally Clerks, Gangway Security Over Port Revenue Loss
-
Maritime2 hours agoNNS Hands Over Two Suspected Stowaways to Immigration Service
-
Rivers2 hours agoEducation Commissioner Lauds STAN Executive, Appreciates Support