Aircraft Wet LeasingkKilling Nigeria’s sustainability – Keyamo
Wet leasing of aircraft by the Nigerian airlines is killing the sub-sector’s capacity to grow and their sustainability, Mr. Festus Keyamo, the Minister of Aviation and Aerospace Development has said. The minister also said that one of his primary aims was to grow the sector and empower Nigerians.
A statement by the National Association of Nigeria Travel Agencies (NANTA), said that Keyamo stated this on Tuesday, during the visit of the executives of the association to his office in Abuja. According to the statement, Keyamo declared that it was necessary for the sector to open up itself for the dry leasing market for the country’s operators, lamenting that wet leasing of equipment was not sustainable.
In a bid to address this challenge, Keyamo said he had embarked on visits to aircraft manufacturing companies to help the local investors acquire aircraft. He assured that all travel trade related concerns would be addressed by the Federal Government, adding that the best way to stabilise the Nigerian aviation industry was to empower Nigerians.
Besides, he emphasised that there were various issues plaguing the industry, particularly the capacity of Nigerian airline operators to compete profitably and to satisfy the demands of the Nigerian travelling public.
He said: “My mission is to restore the glory of the Nigerian aviation industry, and that is why I have embarked on visits to aircraft manufacturing companies to help our local investors acquire aircraft. We need to open up the market for dry leasing to Nigerian operators. Wet leasing is killing our capacity to grow the sector sustainably. It is my major concern to empower Nigerians.
“We must work together to clean up the system. I must commend NANTA for the support during the most difficult periods in our industry and for the traveling public. We need you to continue to keep faith with us as we need all the help we can get to create jobs and empower our people.”
Speaking earlier, Mr. Yinka Folami, President, NANTA, assured Keyamo of the association’s support and collaboration always. Folami noted that the minister deserved the accolades from Nigerians and in particular NANTA members. He also assured the minister of NANTA’s support, while also providing all critical information needed to change the narratives in the industry.
Folami, however, requested the intervention of the minister to enthrone equity and fairness in the travel trade market of the country.
He regretted that the market had shrunk by about 40 per cent in recent times due to unmitigated cross border trading by foreign merchants and their local collaborator in Nigeria.
He said: “We have no problem with global players in our market, but they should play fair, and stop encroachment of global fares with its attendant depressing effect on the Nigerian economy, and on the Nigerian traveller.
“Our market is eroded by this development, and jobs are threatened. So, we want the government to initiate policies to check these unethical practices and, and where necessary, sanctions them for economic sabotage.”
Also, on the NANTA delegation are Mr. Susan Akporiaye; immediate Past President, NANTA, Dr. Dagunduro Olatokunbo; 2nd Deputy President, Mr. Yinka Ladipo; Financial Secretary, Mrs. Kemabonta Ibiwari Uloma; Vice President, Abuja Zone and Mr. Ehiogie Hope Osas; Vice President, Eastern Zone, among others.
