ABUJA, Nigeria (VOICE OF NAIJA)-The Federal Government has announced plans to investigate the causes behind the collapse of nearly 100 airlines over the past 40 years.
Vice President Kashim Shettima made this known on Thursday during the Ministry of Aviation and Aerospace Development Conference on the Cape Town Convention and Aircraft Protocol Implementation in Abuja.
He also assured that the government is committed to introducing policies aimed at preventing the premature failure of domestic airlines.
This comes after the Minister of Aviation, Festus Keyamo, recently voiced concerns over the alarming rate of airline failures in the country, with over 100 carriers ceasing operations in four decades.
“More than 100 airlines have gone in the last 40 years and I know you all remember. From Concord to Zenith to Bellview, among others. You will then ask yourself why they die off. I can keep mentioning them because I have their list with me,” Keyamo stated.
Speaking on behalf of the Vice President at the conference in Abuja on Thursday, Festus Keyamo highlighted the alarming rate at which domestic airlines in Nigeria have failed.
“It behoves us now in office to find out why they went under and how we can ensure that it does not happen again. The only way we can do that is through policies and frameworks to ensure that they survive. We can’t keep giving them money. We must make the business conducive for them to survive.
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“One of the key elements that we recognise as a government is to ensure that we unlock the international markets on aircraft, and at the heart of that is to ensure the full compliance with the tenants of the Cape Town convention.”
He praised local operators for their resilience in navigating a challenging business environment and emphasized that the Cape Town Convention has emerged as a transformative legal framework, unifying diverse global legal systems to promote predictability and stability for aviation stakeholders.
“For Nigeria, this Convention has not only enhanced our global standing but has also opened doors to increased investment and growth in aviation financing.
“The recently issued Federal High Court Practice Directions and Advisory Circular mark significant milestones in our journey to align with international best practices. These initiatives have streamlined legal processes, enhanced jurisdictional clarity, and improved Nigeria’s compliance index, positioning our nation among global leaders in aviation governance,” he said.
Echoing the minister’s remarks, the Director-General of the Nigerian Civil Aviation Authority, Chris Najomo, stated that the Cape Town Convention aligns perfectly with President Bola Tinubu’s Renewed Hope agenda.
He noted that the Convention provides a roadmap for modernising Nigeria’s aviation sector, with the ultimate goal of fostering national prosperity.