The Federal Airports Authority of Nigeria (FAAN) has revealed that the aviation sector now contributes $1.7 billion to the country’s Gross Domestic Product (GDP).
Olubunmi Kuku, FAAN’s Managing Director, made this known at the launch of the book “100 Years of Civil Aviation in Nigeria” by Wole Shadare in Lagos.
Kuku said this milestone is a testament to the efficacy of market-driven solutions in Nigeria’s aviation industry.
According to BusinessDay, she attributed the achievement to private sector involvement, citing the introduction of fresh capital, modern management practices, and a competitive spirit.
“The private sector took the initiative, and companies like Air Peace and Arik Air revolutionised the aviation landscape,” Kuku said. She highlighted the current state of the industry, noting 39 certified airline operators, 31 airports nationwide, and over 2,100 licensed pilots.
Kuku stated that the aviation sector’s contribution to the GDP is approximately $1.7 billion, with private airlines connecting cities efficiently and international carriers recognising Nigeria as a critical market.
According to BusinessDay, she disclosed that over 16 million passengers used domestic terminals, while international passenger numbers exceeded 3.5 million.
While acknowledging the industry’s impressive growth, Kuku emphasised that there is still substantial potential for growth. She encouraged investors to view challenges such as infrastructure deficiencies, regulatory frameworks, and financing requirements as opportunities rather than obstacles.
“The forthcoming chapter of Nigerian aviation will be authored by those who recognise that our skies are not merely thoroughfares for aircraft, but highways to prosperity,” she said.