Minister of Aviation and Aerospace Development, Festus Keyamo, has said the Federal Government (FG) is targeting N240million monthly revenue, which translates to N2.880 billion per annum, from the access tollgate at the Murtala Muhammed Airport (MMA), Lagos.

The gate links both the international and domestic wings of the ever-busy airport.

Delivering a keynote address at a webinar entitled: ‘Repositioning the aviation sector for revenue generation and growth: Role of Legislation’, Keyamo said at present the access gate generates N100 million monthly, stressing that the target was to generate N240 million monthly.

According to the Minister, FG’s intention for the aviation sector in terms of optimization of revenues from the various aviation agencies does not amount to raising taxes.

To him, the plan is to make the agencies block all leakages, thus jerking up inflow.

He said after investigation, it was discovered that many users of the tollgate were exempt from paying the toll under the excuse of being Very Important Personalities (VIPs), stressing such practice will end as no one, including himself, would henceforth be exempt from such revenue payment.

He further stated that efficient air transport contributes to economic growth and development, adding that data from the National Bureau of Statistics (NBS) showed that the aviation sector has contributed about N117 billion, or 4%, to the National Gross Domestic Product (GDP) in the first quarter of 2022, supported about 200,000 jobs and paid about N8.5 billion in tax annually.

The Minister applauded the performance, saying it is a feat government is committed to upscaling by latching on to the Renewed Hope Agenda of President Bola Tinubu.

“I have reviewed the progress made so far vis-à-vis the existing gaps. Accordingly, we are already looking at focus areas which are encapsulated in a five-point agenda, namely strict compliance with national laws and regulations, international obligations; improvement and development of infrastructure for passenger convenience; support for the growth and sustenance of local airline businesses; human capacity development, and optimization of revenue generation.

“As the Minister of Aviation and Aerospace Development, I am deeply committed to this agenda. In these challenging times, characterized by evolving market dynamics and global uncertainties, the need to reposition our aviation sector for sustainable growth has never been more pressing. It requires vision, resilience, finances, and collaboration,” Keyamo noted.

The Nigerian aviation industry, he admitted, was going through a new round of transformation and adjustment, hinting that to actualize the five-point agenda for growth of the Nigerian aviation value chain, the Ministry was looking forward to a new phase of partnership and collaboration, by leveraging the immense opportunities in the sector to attract Foreign Direct Investment (FDI) and Joint-Venture partnerships with heads of international economic organizations, presidents of transnational corporations and principals of leading privately-owned enterprises.

Legislation, according to Keyamo, provides the overarching framework within which the aviation sector operates, reiterating that it is the bedrock upon which “we build our vision for the industry’s future. Thus, it is incumbent upon our legislators to draft policies that promote growth, encourage investment, and ensure safety and security. The aviation sector is, first and foremost, a safety and security-critical industry.”

culled from Daily Times Nigeria