Nigeria anticipates 7% growth, expecting a 41% increase between 2020 and 2021
By Jeph Ajobaju, Editor-in-Chief
Air travel to Nigeria is expected to grow by 7% by 2032, above the global industry forecast of 5.3%.
Federal Airports Authority of Nigeria (FAAN) Business and Business Development Manager, Sadiku Rafindadi made the screening during the National Aviation Conference Investment Forum in Abuja.
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He pointed out that the aviation industry is critical to Nigeria’s socio-economic growth, noting that domestic and international passenger traffic grew by 41% from 9.3 million in 2020 to 15.8 million in 2021.
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241,000 jobs in the aviation value chain
Rafindadi cited a study by the International Air Transport Association (lATA) in June 2020 which highlighted the enormous contribution of aviation to the national economy by providing 241,000 jobs, direct and indirect, supported by a chain of procurement worth $1.7 billion.
Nigerian aviation is looking to capitalize on the growing African market, taking advantage of its proximity to Europe, the Middle East and the rest of Africa.
Most of West and Central Africa, which has no clearly dominant airline, is within a four-hour flight of Nigeria.
Rafindadi disclosed that FAAN is changing its business model to a self-sustaining framework through increased private sector participation to reduce the financial burden on government.
FAAN also maximizes its contribution to socio-economic development through increased tourism, trade and foreign investment (FDI), focusing on the growth of the agro-allied sector and economic processing zones at designated airports.
The Director General of the Civil Aviation Authority of Nigeria (NCAA), Musa Nuhu, said 12,000 hectares for Abuja airport development provided the Federal Capital Territory Administration (FCTA ) an opportunity for investors to invest in aviation.
He pointed out that the Nigerian aviation industry offers several opportunities for investment and that the NCAA is working to unbundle regulations to make it easier for investors in all fields, especially in general aviation.