On the occasion of United Nigeria Airline’s 4th anniversary, Prof. Obiora Okonkwo, the airline’s founder, praised the Nigerian Federal Government for fostering a conducive environment for domestic airline operators. In a statement released in Abuja, Okonkwo highlighted the government’s shift from the prevalent state-controlled aviation model in Africa to a more liberal, free-market approach in Nigeria.
Okonkwo specifically commended President Bola Tinubu for his focus on the aviation sector, stating that the goal of achieving a one trillion dollar economy through aviation is feasible due to the current supportive policies. He noted that the foreign exce policy ces implemented since Tinubu’s administration have significantly transformed airline operations by resolving issues like access to foreign exce and the trapped fund saga, which previously marred Nigeria’s reputation internationally.
“The foreign exce policy introduced since the inception of the President Tinubu-led administration has revolutionised airline operations in the aviation sector,” Okonkwo stated, emphasizing that these reforms have alleviated the financial pressures on airlines needing to settle international obligations.
He also acknowledged the efforts of the Aviation Minister, Mr. Festus Keyamo, in safeguarding the interests of domestic operators. Okonkwo reflected on the airline’s launch in February 2021, describing it as one of the most challenging times due to the global impact of the COVID-19 pandemic.
Looking forward, Okonkwo suggested further support measures, including elishing a single-window loan system for the aviation industry aligned with global practices. He advocated for dramatically reduced loan interest rates, proposing a three percent rate compared to the thirty percent currently charged by local financial institutions, arguing that such a policy would enable the sector to thrive and contribute more significantly to the national economy.
Okonkwo expressed optimism about the future of Nigeria’s aviation sector, envisioning it could rank among the world’s richest if supportive measures continue. He stressed the need for specialized financial support for airlines, noting that the high competition for loans with other sectors at prohibitive interest rates was detrimental to profitability and growth in the aviation industry.
I find it hard to believe that the government is actually supporting the aviation sector. Can we trust their intentions?
Is the government really doing enough to support the aviation sector or is it all just talk? Lets discuss!
I disagree with the founders praise of the governments support. Its just a smokescreen for deeper issues in the aviation sector.
Im not convinced. The governments support for the aviation sector seems fishy. I smell soing shady going on.
Im not convinced about the governments support. Lets see tangible results before we start applauding. Show me the money!
I think the government should focus on other sectors instead of just aviation. There are more pressing issues that need attention.