Group Managing Director (GMD) of Finchglow Holdings, Mr. Bankole Bernard, emphasized that credible data gathering could resolve 50 percent of aviation sector challenges. Bernard highlighted this at the 28th annual League of Airport and Aviation Correspondents (LAAC) conference, focused on “Aviation Survivability Amidst A Challenging Macro-Economic Environment.”
At the conference, Bernard, a panellist, discussed how credible data gathering is crucial for the aviation industry’s purposeful growth. He criticized the noisy and inconsistent data from various agencies within the sector. According to Bernard, the lack of verifiable data is impeding the industry’s progress, despite the sector’s expertise.
Bernard stated, “It is impossible for us as an industry to survive without a central data system. Thus, without it, how can we formulate policies, make plans, or thrive effectively?”
He questioned the reliability of travel statistics, stating, “Day-in-day-out, we hear that 5 percent of the population are air travellers. Meanwhile, who is verifying these figures?”
Bernard continued, “We always say we have 15 million travellers in Nigeria out of 240 million people. Clearly, we are not illiterate.”
He urged the government to establish a central data system, asserting it could solve 50 percent of sector issues. Additionally, he criticized the naira’s depreciation, noting its adverse impact on operational costs.
To address these challenges, Bernard called for government action to create a business-friendly environment. He argued, “Unfortunately for us as an industry, everything about us is dollarized and that has a lot of impact on our operations. I believe that the government can initiate policies that will support the industry. There must be policies that will sustain the industry by helping it to stay afloat.”
Bernard also stressed the importance of policy continuity.
He suggested that consistent policies are crucial for industry stability. Bernard noted, “Year-in-year out, new governments frequently alter policies. Consequently, continuity is essential.”
He added, “When the new government does not change existing policies, rather, working on plans to see them to completion is vital.”
It is crucial for the government to support the industry by maintaining consistent policies and fostering a stable business environment.