The Chief Executive Officer (CEO) of CITA Aviation Fuel Company, Dr Thomas Ogungbangbe, has called for the stimulation of economic activities to boost passenger traffic in the aviation industry.
He said that the Nigerian aviation sector, like many others around the world, had been severely impacted by the macro-economic environment, including high fuel costs, poor access to foreign exchange, a weakening currency and the constant need for maintenance and infrastructure improvements.
Ogungbangbe, who was chairman of the occasion at the just concluded conference of the League of Airports and Aviation Correspondents in Lagos with the theme: “Aviation Sustainability Amidst Challenging Macro-Economic Environment”, stated that Nigeria, with a population of approximately 250 million, had over 30 airports with only three of them financially viable.
He said, “Investing in new airport projects while neglecting essential infrastructure like roads is counterproductive. Improved road networks facilitate easier access to airports, making air travel a more attractive option for our populace.
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“We must prioritise the maintenance and improvement of existing airports and essential infrastructure rather than embarking on new airport projects that may not yield immediate returns.”
He said there was a severe underutilisation of aviation infrastructure and called for a strategic shift in approach to aviation sustainability.
He further said, “Passenger traffic in our sector is closely tied to economic activities. A robust economy generates increased business and leisure travel, leading to higher passenger volumes. Therefore, our focus must be on stimulating economic growth and activities that will, in turn, boost demand for air travel.”
He noted that Singapore, with a population of 6.03 million, registered 16.5 million passenger movements through the Changi Airport in the first three months of 2024; Hong Kong, with a population of 7.5 million, recorded a 12-month rolling passenger volume of 44 million.
Aviation analyst and Second Vice-President of Aviation Roundtable and Safety Initiative, Dr Alex Nwuba, called for a new and sustainable aviation business policy that drives growth and positions Nigeria for the coming common trade area for goods and services, and in particular, a single air traffic market.
He said, “Nigeria believes it has a large market, yet we see the same 5 per cent of the population who have bank accounts as the percentage of air travellers. This is a huge impediment and at the same time an incredible opportunity.”
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