The Federal Government has expressed readiness to investigate the reason for the extinction of about 100 airlines in the last 40 years.
Vice President Kashim Shettima disclosed this on Thursday at the Ministry of Aviation and Aerospace Development Conference on the Cape Town Convention and Aircraft Protocol Implementation in Abuja.
He also pledged the government’s readiness to provide policies that will ensure domestic airlines escape quick demise.
Recently, the Minister of Aviation, Festus Keyamo, expressed worry about the high mortality rate of airlines in the aviation sector, as over 100 carriers had gone under in the last 40 years.
“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.
While representing the Vice President at the conference in Abuja on Thursday, Keyamo again said Nigeria has witnessed a very high mortality rate of domestic airlines.
“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.
“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.”
Commending local operators for their resilience despite the excruciating business environment, he affirmed the Cape Town Convention has proven to be a transformative legal framework, harmonising diverse global legal systems to foster 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.
Corroborating the minister’s position, the Director-General of Nigeria Civil Aviation Authority, Chris Najomo, said the Cape Town Convention aligns seamlessly with the Renewed Hope agenda of President Bola Tinubu.
He said the Convention has offered a pathway to modernising the country’s aviation sector with the target of making Nigeria prosperous.