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FG seeks investment in aircraft leasing, maintenance

The Minister of Aviation and Aerospace, Festus Keyamo (SAN) on Wednesday announced that numerous investment opportunities abound in the aviation sector in the areas of aircraft leasing and maintenance.

Keyamo made the disclosure in his address during the 7th Africa Aviation Summit and Exhibition, which took place at the International Conference Centre, Abuja.

He assured that the government will ensure that all contractual agreement are honoured just as government will facilitate Forex for the investors.

The Minister also promised that most of the projects are already captured in the aviation development roadmap adding that the opportunities are in line with the vision of President Bola Ahmed Tinubu administration’s vision of making Nigeria the aviation hub of Africa.

Keyamo said that the Maintenance, Repair, and Overhaul (MRO) facility is another critical aspect that can make the Nigerian aviation industry a hub on the continent, adding that with the shortage of qualified engineers, the current administration is willing to provide all the necessary support for the establishment of world-class MROs and training organization.

The minister assured that the current administration is committed to ensuring that forex is readily available to entrepreneurs.

According to Keyamo, the president has directed that the Central Bank of Nigeria (CBN) to hold quarterly reconciliation meetings to resolve all issues concerning trapped FOREX.

“The current administration is open to providing tax holidays to encourage existing and new entrants into the Nigerian aviation sector.

“We will upgrade of the Cat3 landing system at major airports, construct a second runway in Abuja, and improve airport programmes through concession and the government’s willingness to partner with companies to turn major airports into Aerotropolis,” the minister added.

He explained that the recent global events further exposed the immense contribution and importance of air transportation as a catalyst for economic development, vital engine of global socio-economic growth, one of the most significant contributors to the advancement of modern society and a key instrument for achieving the United Nations Sustainable Development Goals (SDGs).

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