It has been revealed that Nigeria lost at least $2.5 billion (about N1.25 trillion) in the maintenance of its aircraft to foreign Maintenance, Repair and Overhaul (MRO) facilities in 2021.
The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Captain Rabiu Yadudu, revealed this on Tuesday in Abuja at the maiden edition of the FAAN National Aviation Conference (FNAC).
Yadudu in his welcome address at the conference with the theme: ‘Advancing the Frontiers of Possibilities for Safe, Secure and Profitable Air Transport,’ said that such capital flight would have been saved if the country had MRO facilities that could adequately cater for all types of aircraft.
However, he said that the conference would avail investors and entrepreneurs the opportunities to invest in the several areas in the sector.
To carry out C-check on Boeing 737 aircraft or its category, airlines expend at least $1.8 million and C-check is carried out on aircraft every 18 months.
The managing director lamented that Nigeria’s potential and capacity in the global air transport industry is being grossly underutilised, stressing that if stakeholders in the industry were indeed desirous of attaining the status of a major player in the global aviation sphere, it was high time the country integrated backward to repose and move the industry forward.
He explained that the focus of the conference was on Nigeria because the country had the largest fleet of aircraft within the sub region.
He said: “It was reported that Nigeria lost $2.5 billion (about N1.25 trillion) in MRO investments to neighbouring countries. Having such investments here would have created more employment opportunities for Nigerians, revenue generation and training of technical personnel for maintenance of aircraft.
“The inter link and value chain between the air transport, tourism and hospitality industry for economic growth cannot be over emphasised.
“Today, the Eiffel Tower in Paris, London bridge, Dubai Mall, Burj Khalifa, the British museum in the United Kingdom, e.t.c. have all been consciously developed into major tourist attractions that drive passenger traffic to those destinations and by implication attract businesses and generate employment for the locals and foreigners alike.”
Yadudu further lauded the Minister of Aviation, Senator Hadi Sirika, the Permanent Secretary, directors of the Federal Ministry of Aviation, the Senate and House Committee Chairmen and other stakeholders for supporting the industry at all times.