Notwithstanding high inflation and other economic challenges, Nigeria’s aviation sector is booming, with air travelers flocking to airlines to travel to their destinations. However, frequent flight delays, cancellations, and high ticket prices are becoming major sticking points in the industry.
Aviation and Aerospace Development Minister Festus Keyamo revealed that the root cause of these issues is insufficient aircraft to serve the growing passenger demand.
In a BBC Pidgin English interview on Saturday, Keyamo said the flight delays now worry the government and assured the government was working to resolve the root cause. He highlighted Nigerian airlines’ difficulties acquiring aircraft due to high rental costs and manufacturers’ concerns about recovering their assets.
The government has initiated partnerships between Nigerian airlines and foreign manufacturers to address this. Keyamo cited the signing of the Cape Town Convention, which improved Nigeria’s aviation rating from 49% to 70.5%.
Excerpts from the BBC Pidgin interview pic.twitter.com/A5qJSnUU6C
— Festus Keyamo, SAN, CON, FCIArb (UK) (@fkeyamo) October 13, 2024
“This agreement ensures that if there’s a problem, the government will allow the manufacturers to recover their aircraft,” Keyamo explained.
The federal government’s recent signing of the Cape Town Convention on September 12 is expected to enable domestic airline operators to access aircraft on dry lease, potentially leading to lower flight rates.
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