Aviation Minister Festus Keyamo actively directs a review of an aviation development bank proposal, envisioning a structured financial system.
In a Ministry of Aviation meeting, Keyamo instructs a team to explore global funding options for industry development, aiming for low-interest funds and inclusive growth.
Tasked with forming an aviation development bank, the team addresses industry risks through a PPP initiative for a robust investment and financing system.
Prioritizing revenue growth and optimization, Keyamo assembles a team comprising Mr. M. R. Shehu, Mr. Samuel Bajomo, Fortune Idu, Mr. Yenusa Abudsalam, and Prof. Ken Ife.
Chaired by Mr. Shehu on behalf of the Minister, the meeting focuses on Fortune Idu’s call for a well-structured financial system in aviation.
Fortune Idu emphasizes aviation’s isolation from Nigeria’s infrastructure investment banking, pushing for drastic measures to improve funding access.
Idu asserts that aviation development needs consistency and sustainability with a stable financial outlook for global investment.
Prof. Keneth Ife, a CBN consultant, acknowledges the urgent need to set up a sector-specific bank for aviation and transport during the meeting.
Highlighting the industry’s N10 trillion value, Ife sees growth potential with proper positioning and robust corporate governance.
The suggestion involves PPP-led creation of the bank, with the Federal Government’s initial support and integration of other transport sectors for a broader financial scope.
Meeting attendees express interest in collaborating with financial stakeholders, viewing the initiative as a potential game-changer for aviation industry survival and growth.
