Nigeria has commenced the process of unlocking the over $7.2 billion (over N3.3 trillion) projected aviation annual contribution to Nigeria’s Gross Domestic Product (GDP) by 2038.
The concrete efforts began on Tuesday in Abuja at the Single African Air Transport Market Pilot Implementation Project (SAATM – PIP) Cluster 1 Coalition Roadshow (Nigeria).
With implementation of open skies, according to a study on SAATM by Embraer (2020), in 2038, using traffic forecasts and economic impact estimates from ICAO, Nigeria’s aviation industry would contribute some $1.3bn to the GDP.
That would rise to $7.2bn when factoring the induced and indirect catalytic effects of tourism. Aviation could generate 800,000 jobs of which 60,000 would be directly associated with airline operations.
Speaking, the Secretary General of the African Civil Aviation Commission (AFCAC), Adefunke Adeyemi, said: “In this roadshow, we are focusing on fifth-freedom routes. And for you to have them, you need a group of three countries and that is our cluster approach. Nigeria is one of our cluster countries and we are going country by country to address them.”
She said the target is to increase the routes’ penetration from 14.5 per cent to 30% in 2025.- DAILY TRUST
