The Group Managing Director (GMD), Finchglow Holdings, Mr. Bernard Bankole, has called for a unified data system to enhance the Nigeria’s Aviation Industry.
Bankole made this call at the recent League of Airport and Aviation Correspondents (LAAC) annual conference, affirming that inconsistent data from various agencies is impeding industry growth.
A central data system according to him would solve 50 per cent of our challenges, providing a reliable foundation for policy formulation and business planning.
Bernard, at the Conference tagged ‘Aviation Survivability Amidst A Challenging Macro-Economic Environment,’ regretted that different agencies in the sector release diverse data for the industry, maintaining that it was impossible for the sector to survive without a central data system.
He stressed that the sector was not lacking in expertise but emphasised that the lack of verifiable data was slowing down the growth of the industry.
The Finchglow GMD argued that with a verifiable central data system, 50 per cent of the challenges in the sector would be solved.
He said: “It is impossible for us as an industry to survive without having a central data system. Without a central data system, we are formulating our policies and making plans without a clear basis, and consequently, we are thriving in business without a solid foundation.”
Bernard urged the Federal Government and its agencies in the Nigerian aviation industry to be purposeful with data gathering for the sector’s growth.
The government was also urged to create an enabling environment for businesses.
Addressing the issue of fluctuating currency, Bernard decried the continuous depreciation of the naira against the dollar, noting its adverse effect on operational costs.
He called on the government to create policies that support the industry and maintain continuity to ensure sustainability. “Everything in our industry is dollarised, impacting our operations significantly. The government can initiate supportive policies to sustain the industry and help it stay afloat.
“Policy somersaults with each new government hinder our industry. Continuity in existing policies is crucial for our survival and growth,” he said.