PRESS RELEASE
DANIELS OG
30/05/24
A businessman and technology expert, Danjuma Audu, has said as Nigeria grows economically, business aviation in recent years, has become a major force in opening up a potential path for the country’s economic expansion and diversification.
Audu said the aviation sector is fast becoming one of the best performing sectors of the Nigerian economy with the recent strides of players in both commercial and business aviation segments of the sector, noting that however, whilst there have been accolades for some of the indigenous players in the commercial segment, the efforts and contributions of business aviation may have been ignored.
Audu, who is also the President and Executive Director, Digital Transformation for Reliance infosystems Limited, viewed that indeed, the government may have become critical of the sub-sector due to the recent statements and actions of key decision makers on the country’s aviation sector.
Business aviation refers to both owned and chartered aircraft uses for various purposes. It is an exclusive aviation segment compared to commercial aviation which offers mass access.
According to the businessman, business aviation is today, more than a luxury; it is a vital leveraging tool that facilitates extra competitive advantage with regards to efficiency in transportation and logistics. He said with business aviation, business leaders can get to their destinations faster and more efficiently whilst maximizing the time spent onboard for further business activities.
“As Nigeria grows economically, it has become a major force in business aviation in recent years, opening up a potential path for the country’s economic expansion and diversification. The Compound Annual Growth Rate (CAGR) of business aviation is rising throughout West Africa, and Nigeria is leading the way in this expansion, exhibiting exceptional dominance in the industry. When seen as a whole, Nigeria’s thriving business aviation industry has spurred growth in a number of related businesses.
“The rise and spread of Training Schools, Catering Businesses, Aircraft Maintenance Organizations, and Continuous Airworthiness Maintenance Organizations are clear examples of the knock-on effects. The mutually beneficial association observed in the value chain highlights the significant influence of business aviation on the wider economic environment.
“Furthermore, over the past decade, the industry has played a key role in creating a significant number of job possibilities, which have in turn encouraged the emergence of completely new industries. Business aviation offers a wide range of professions, including engineers, pilots, flight attendants, and dispatchers, substantial career progression opportunities. Notwithstanding these accomplishments, there is an urgent need to change the narrative to avoid making claims that can unintentionally erode investor and customer confidence. It is imperative that governments prioritize actions that aim to establish an enabling climate for the sustainable development of the industry, instead of endorsing rhetoric that may impede growth.
“Authorities can take a cue from effective regulatory frameworks that value cooperation and compliance above punitive measures, rather than taking a confrontational approach.
“The history of business aviation in Nigeria is essentially one of resiliency, creativity, and unrealized potential. Policymakers can leverage the transformative power of business aviation to move Nigeria towards a future characterized by prosperity and opportunity by creating an environment that is conducive to growth. To realize this emerging industry’s full economic potential, stakeholders must work together harmoniously by establishing a path for equitable growth and sustainable development as a result.”
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