The Vice President, Senator Kashim Shettima, has assured domestic airlines of the government’s commitment to supporting their operations despite the challenges posed by a volatile market.
He commended their relentless efforts to grow the industry and told them the ongoing administration is dedicated to ensuring a sustainable aviation sector.
Shettima stated this on Thursday at the Ministry of Aviation and Aerospace Development Conference on the Cape Town Convention and Aircraft Protocol Implementation held in Abuja.
At the conference, Vice President explained in the last 40 years, Nigeria has experienced a high mortality rate among domestic airlines due to factors such as poor management, inadequate infrastructure, inconsistent government policies, high operating costs, and stiff competition.
These challenges have made it difficult for many domestic airlines to achieve sustainability and profitability, ultimately leading to their collapse.
In his comments, Shettima stressed that the government cannot continue to financially support the domestic airline sector indefinitely. Instead, he advocated for the establishment of policies and processes that would ensure the survival and long-term growth of domestic airlines in the country.
“It behooves us in office to understand why these airlines failed and to ensure it does not happen again. The only way to achieve that is through effective policies. Policy frameworks must be put in place to ensure their survival. We can’t keep giving them money; rather, we must create a conducive business environment for them to thrive,” he said.
“One of the key elements we recognize as a government is the need to unlock international markets for aircraft. At the heart of this is ensuring full compliance with the tenets of the Cape Town Convention,” he added.
According to Shettima, the government is committed to implementing favorable policies that will enhance the survival of domestic airlines and drive economic growth. He noted that the administration is aware of the challenges posed by the tough operating environment, including the volatility of the Naira, and is working to address these issues to support the functionality of the airlines.