The Nigerian aviation industry has lost N24bn in one month as a result of airports shutdown to mitigate the spread of COVID-19.
The Minister of Aviation, Sen. Hadi Sirika disclosed this Wednesday during the Daily briefing of the Presidential Taskforce on COVID-19.
This estimate is coming as the FG extends airports closure for another one month.
Thus, this might lead to loses peaking in excess N50bn in two months or more.
He said, “The total loses is about N21bn approximately, plus another N3bn tangentially.”
“This is divided in this form: N7bn for aviation agencies, that’s what they lost in a month, N10bn for the airlines, and N4bn for ground handlers, caterers etc and the tangential N3bn” he explained.
Also quoting statistics from the International Air Transport Association (IATA), he said the estimated loses to Nigerian GDP so far is $185m.
The loss in airlines revenue alone for Nigeria he said based on IATA’s estimate is $994m and in terms of employment at risks, Nigeria is at the risk of losing 125,000 jobs.
He said some airlines won’t be able to survive the pandemic.
