Business
Aviation Expert Tasks FG On Customs Duties
The Chief Executive Officer of Bristow Helicopters, Capt.
Akin Oni has identified high cost of customs duties on air craft and their
spare parts as one of the factors militating against the growth of the aviation
industry in Nigeria.
To this end, he called on the federal government to waive
customs duties on aircraft and their spare parts to reduce the cost of doing
business in the sector.
According to him, Nigerian airlines spend about $4 million
on customs duties on acquired airplanes and such high cost is of no benefit to
the airline.
He said Nigeria is one of the few countries in the world
where domestic airline operators pay customs duties on aircraft and their spare
parts, adding that in Europe, United States and Ghana such charges are no
longer in vogue.
Oni maintained that the $4 million spent on Customs duties
could be used for the construction of two standard maintenance hanger
facilities, stressing that Nigerian airlines would find it difficult to compete
with their counterparts across the world with the high customs duties paid on
the affected items.
“If you import an aircraft, you spend 14 per cent as import
duties to government which is about $4 million for just importing an aircraft.
We are one among few countries that enforce such law, the same
applies to spare parts. During President Obasanjo’s regime it was removed and
we pray that it should not be sustained because it is killing us; it is killing
the aviation industry.
“If all these taxes and levies are waived, it will greatly
improve the sector and boost the country’s economy. Obasanjo once waived this
policy before it was re-introduced.
If this is reduced or abolished, it will also reduce
pressure on operators because with $4 million, I can put two hangars up and
immediately start maintenance business”, he said.
Business
NCDMB, Jake Riley Empower 250 Youths On Vocational Skills
Business
NUJ Partners RSIRS On New Tax Law Education
Transport
Nigeria Rates 7th For Visa Application To France —–Schengen Visa
-
Politics23 hours agoPFN Rejects Call For INEC Chairman’s Removal Over Genocide Comments
-
Sports22 hours agoEnekwechi wins Orlen Cup in season opener
-
Rivers23 hours agoFasthire, PHCCIMA, CIPM Host CareerFest 2026 In PH
-
Sports22 hours agoSimba open Nwabali talks
-
Sports22 hours agoFalconets, Senegalese Lionesses arrive Ibadan for qualifier
-
Niger Delta23 hours agoStakeholders Task INC Aspirants On Dev … As ELECO Promises Transparent, Credible Polls
-
Business24 hours agoNCDMB, Jake Riley Empower 250 Youths On Vocational Skills
-
Niger Delta23 hours agoTinubu, Jonathan, Diri Pay Last Respect To Ewhrudjakpo
