FG harps on financial discipline for sustainable aviation growth
By Seun Ibiyemi
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has underscored the crucial relationship between aviation and financial discipline as a foundation for the industry’s sustainable growth.
Keyamo made the statement during the inauguration of the Aviation Chapter of the Institute of Chartered Accountants of Nigeria (ICAN) in Lagos earlier this week. The minister was represented by the Director of Special Duties at the Federal Airports Authority of Nigeria, Mr Henry Agbebire.
“I welcome this important initiative, which aligns with our reform agenda in the aviation sector by promoting professional excellence, encouraging strategic collaboration, and upholding ethical standards,” Keyamo said.
He pointed out that the newly established ICAN Aviation Chapter is poised to serve as a catalyst for enhancing financial discipline and fostering sustainable development throughout the aviation value chain.
“The synergy between aviation and finance cannot be overstated. From infrastructure development to operational sustainability, sound financial management is the engine driving progress,” Keyamo explained.
He expressed confidence that the programmes, advocacy, and thought leadership from the new chapter would help bridge the gap between technical operations and financial management.
The minister praised the pioneer chairman, Mr Ayodele Olatiregun, and his team for their vision and dedication to the sector. He assured them of the ministry’s full support in their efforts to build a more transparent and accountable aviation industry in Nigeria.
Delivering the keynote address, guest speaker Mr Nelson Wilbert spoke on the theme: “Flightpath to Financial Excellence: Integrating Strategy, Systems, and Standards.”
“In aviation, a flight path is more than just a route, it’s a mission,” Wilbert said. “It is the invisible yet vital corridor that ensures every aircraft reaches its destination safely, efficiently, and on time. It demands precision, adaptability, and unwavering focus.”
He added that achieving financial excellence in aviation institutions is a mission-driven effort requiring a well-coordinated approach, guided by strategy, systems, and enduring standards.
Wilbert also noted that in today’s era of geopolitical shocks, economic uncertainties, and changing passenger expectations, financial strategies must align with broader institutional goals and a higher purpose.
“Whether it’s achieving net-zero carbon emissions, expanding infrastructure, or increasing non-aeronautical revenue, our financial strategy must be visionary, flexible, and aligned with stakeholder priorities,” he said.
He further stressed that integrating strategy, systems, and standards is an ongoing journey that requires strong leadership, collaboration, regular evaluation, and an unwavering commitment to excellence.
“Financial excellence is not achieved by chance; it is the result of daily discipline, forward-thinking, and systemic alignment,” Wilbert concluded.
Chief Davidson Alaribe, Diamond President of ICAN, urged the new chairman to prioritise training and professional development for members. Alaribe acknowledged the importance of aviation in contributing significantly to Nigeria’s GDP and highlighted the role of chartered accountants in supporting credit facilitation and job creation.
Alaribe also appealed to the new executive committee to provide innovative leadership and ensure members are equipped with the necessary tools and knowledge to support the sector’s long-term growth and prosperity.
In his acceptance speech, the pioneer chairman, Mr Ayodele Olatiregun, outlined the chapter’s foundational pillars: professional excellence, strategic collaboration, and sustainable systems.
Olatiregun stressed the importance of strategic clarity in organisations, particularly in the aviation and airport sectors, where financial strategies must align with operational goals, infrastructure development, safety, and sustainability.
“Our vision is clear: to become the leading body for financial insight and integrity in aviation, not only in Nigeria but across Africa and globally,” Olatiregun said.
He also announced key initiatives such as “Elevate for the Skies” and the Society of Women Accountants of Nigeria, recognising the evolving nature of the aviation industry and the need for proactive adaptation.
The event, attended by members of the Ikeja Chapter, representatives from other regions, and aviation agency personnel, also marked the official inauguration of the new executive team.