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Aviation contributed N117bn to Nigeria’s GDP in Q1 of 2022 — Keyamo
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Aviation contributed N117bn to Nigeria’s GDP in Q1 of 2022 — Keyamo

The Nigerian aviation industry has made a significant economic impact with a contribution of N117 billion to the country’s Gross Domestic Product (GDP) in the first quarter of 2022, the

  • PublishedSeptember 26, 2023

The Nigerian aviation industry has made a significant economic impact with a contribution of N117 billion to the country’s Gross Domestic Product (GDP) in the first quarter of 2022, the Minister of Aviation and Aerospace Development, Festus Keyamo, has said.

Highlighting the importance of the aviation sector in driving economic growth and development in Nigeria, Keyamo emphasized that the industry’s growth has contributed to job creation, benefiting various sectors.

Keyamo made this known in his goodwill message delivered at a webinar with the theme: ‘Repositioning the Aviation Sector for Revenue Generation and Growth’: The Role of Legislation, in the aviation sector is more than just an industry as it serves as vital lifeline connecting nations, fostering tourism and driving economic growth.

Keyamo pledged the commitment of the government towards upscaling the achievement by latching on the Renewed Hope Agenda of The Tinubu led government.

According to the Minister, Data from the National Bureau of Statistics (NBS) shows that Aviation Sector has contributed about 117 billion Naira which is 4% to the National GDP in the first quarter of 2022; it supports about 200,000 jobs and pays about 8.5 billion Niara in tax annually. These, the minister adjudged as impressive stating the Renewed Hope Agenda of President Bola Ahmed Tinubu, GCFR. is committed to up scaling the achievements.

Keyamo listed some of its mandates as: “Formulation and management of the Government’s Aviation policies, overseeing of air transportation, airport development and maintenance, provision of aviation infrastructural services and other needs.

“To achieve the mandate, the Ministry developed an Aviation Road Master Plan which clearly defines what we need to do to achieve our objectives. It is also instructive to state that upon assumption of office, I have reviewed the progress made so far vis-a-vis the existing gaps.

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“Accordingly, we are already looking at focus areas which are encapsulated in a five-point agenda namely: Strict Compliance with national laws and regulations; and international obligations; Improvement and Development of Infrastructure for Passenger Convenience; Support for the growth and sustenance of Local Airline Businesses; Human Capacity Development and; Optimization of Revenue Generation”, he added.

He also said Legislators play a vital role to ensure the aviation sector operates efficiently thereby contributing to Nigeria’s economic development.

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