Sunday , 25 September 2022

IWAF: President Buhari calls for collaboration to grow infrastructure in Africa

PRESIDENT Muhammadu Buhari has stated that the key to achieving aviation development is through collaboration and has called for a financial arrangement that would aid infrastructure growth in the midst of glaring deficit.

He made this known this morning while declaring open the ICAO World Aviation Forum (2017) in Abuja.

The president who was represented by Vice President Yemi Osinbajo explained that already there are financial partnerships with the African Development Bank (AfDB) that is currently yielding fruit developmentally but called for more to aid the weaker countries in the ‘No country left behind’ initiative.

“The growth of aviation in Africa is a group for intra Africa trade, will be growth for African integration will be growth for African economies everyone agrees that aviation growth is good but the is little commitment to financing the industry beyond mere words.”

Also speaking, Minister of State Aviation, Hadi Sirika who spoke earlier stated that according to the Nigeria Integrated Infrastructure Masterplan(NIMP), US$ 775bn is required to develop Nigeria’s transportation infrastructure over the next 30years.

He further stated that the African Develop Bank (ADB) estimates US$35bn/year (2010-2020), this is focuses on four broad sectors I’ve. Transport and transport infrastructure , electricity and rural access, water, sanitation and ICT.

He however stated that with the kind of deficit shown it looks bad but
provides an opportunity for investments.

” it is imperative that in this address I apprise you with the excellent business opportunities in the aviation sector of this wonderful country…I strongly believe that Nigeria is the place to put your money not only because we moved 24 places on the ease of doing business recently but more so the Rate of Return on investment is 34%, one of the highest in the world.”

” Ladies and gentlemen, the Nigerian government together with relevant stakeholders, developed a roadmap that include but is not limited to safety and security infrastructure strengthening, concessioning of airports beginning with the big four international airports, establishment of a national carrier(private sector led), establishment of maintenance Repair Organisation (MRO ) centre, aviation leasing company, development of Argo-cargo terminals and associated infrastructure among other things.”

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