Thriving aviation industry vital to Nigeria’s $1trn economy goal

By Obasola Olatunde

Founder of United Nigeria Airlines and spokesperson for the Airline Operators of Nigeria (AON), Professor Obiora Okonkwo, has said Nigeria’s ambition to attain a $1 trillion economy would remain unattainable without a vibrant aviation sector, urging the Federal Government to sustain its recent supportive policies in the industry.

Speaking on Monday ahead of the airline’s maiden Abuja–Accra flight, Okonkwo said the aviation sector plays a critical role in driving economic growth, but lamented that Nigerian airlines are overburdened by multiple taxes and levies compared to their international counterparts.

He noted that operators are forced to source funds from commercial banks at high interest rates, while competitors abroad enjoy low interest loans and government backed financing.

“A $1 trillion economy can never be achieved without aviation. Transportation is an enabler without it, everything else fails. We are not asking for grants, only for single digit interest loans that will help us acquire more aircraft and provide better services,” Okonkwo stated.

The Bombardier CRJ900 aircraft, named after former Ghanaian President Jerry Rawlings, departed Nnamdi Azikiwe International Airport, Abuja, at 11:32 a.m. and landed at Kotoka International Airport, Accra, at 12:55 p.m.

At the launch, Minister of Aviation and Aerospace Development, Festus Keyamo, represented by Dr Ibrahim Kana, said the flight would deepen bilateral ties between Nigeria and Ghana, stressing that government remains committed to supporting local airlines through improved access to finance and insurance.

Ghana’s High Commissioner to Nigeria, Baba Ahmed, welcomed the development, saying the new route introduces healthy competition that will benefit travelers.

Also present, Senate Committee Chairman on Aviation, Senator Abdulfatai Buhari, called for stronger collaboration among local carriers, while Air Peace Chairman, Allen Onyema, commended Okonkwo’s achievement and praised President Bola Tinubu’s support for indigenous investments.

“The sky is big enough for all Nigerian airlines,” Onyema said. “When local investors are supported, the country reaps the benefits.”