Aviation and Aerospace Development Minister, Festus Keyamo, advocates swift renegotiation of existing Bilateral Air Services Agreements and Multilateral Air Service Agreements. Promising to facilitate access to single-digit interest rates and foreign exchange, Keyamo aims to empower airlines meet their global obligations.
Keyamo stated this when members of the Airline Operators of Nigeria led by Dr. Abdulmunaf Yunusa, paid him a courtesy visit in his office.
The airlines through Mr. Roland Iyayi highlighted some of their constraints and probable solutions to Nigeria’s aviation industry.
Highlighted challenges include foreign exchange, Jet A1 fuel, capital costs, infrastructure, taxes.
Others are fees, charges, and government policies. AON suggests remedies: Jet A1 import licenses, tax reviews, and advocated renegotiation of existing agreements in accordance with SAATM principles, prioritising domestic airlines.
They urged swift renegotiation of existing BASAs and MASAs in line with SAATM, emphasizing reciprocity favoring domestic airlines.
In response, the Minister reaffirmed his open-door policy, urging airlines to communicate challenges for transparency between the government and operators.
Keyamo commits to supporting local airlines, emphasising adherence to international standards vital for industry growth.
According to him, the government stands ready to aid profitability, considering a review of BASA agreements.
Keyamo further urged AON to renew fleets for increased patronage and encouraged airlines to collaborate for capital resilience.
However, he vowed to present choices for AON to access facilities at single digits, fostering the fulfillment of foreign obligations.
Keyamo welcomed investors for MROs, envisioning a futuristic master plan to position Nigeria as an aviation hub, leveraging BASA routes to lower airfare prices.
