Business
Aviation Projects: Expert Advocates Third Party Financing
Worried by the low rate of infrastructural development in Nigeria’s aviation sector as compared to other developed countries of the world, an aviation expert and former President of Airline Dispatchers Federation, Joe Adeniyi, has called for third party financing from international donor agencies, joint ventures and private sector collaboration in financing aviation projects.
He said that it was becoming increasingly difficult for states to provide airports, cargo facilities, navigational aids among others.
Adeniyi, who disclosed this while speaking to aviation correspondents at the Port Harcourt International Airport Omagwa at the weekend, noted that all the items mentioned earlier, are components for aviation development.
According to him, aviation provides 3.5% of the world GDP while it also provides 9.9 million related jobs, while its civil aerospace employs 1.1 million people and enables 5.5 million ancillary jobs.
“Aviation is a major force in the economic development of any nation and with this realisation, aviation has witnessed an exponential growth globally with 3.5% of the world GDP.
“ Geographically, Nigeria is strategically located in the Gulf of Guinea, equidistant from most locations in Africa and there is obvious excellent business opportunities in the aviation sector in the country.
“ Nigeria has a population of about 173 million people and accounts for about 50% of the total west African population. Nigeria market serves the west and Central African region with a population of 600 million people”, he said.
The aviation expert also urged potential investors to take advantage of the estimated good return on investment in the aviation sector in Nigeria which is regarded as one of the highest in the world.
By: Corlins Walter
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