Stakeholders cite intellectual exchange as key to revamp aviation industry at NCAA summit
The South-West Regional Air Transportation Summit (SWRATS) 2024, organized by the Nigeria Civil Aviation Authority (NCAA), concluded with a strong call for the repositioning of Nigeria’s aviation industry to enhance its financial stability and economic viability.
Held in Lagos, the one-day summit, themed “Repositioning the Nigerian Aviation Industry for Financial Capability and Economic Viability: An Inclusive Regulatory Dialogue,” brought together key stakeholders to chart a new course for the sector.
The summit was chaired by former NCAA Director-General, Dr. Olusegun Demuren, and featured presentations by industry experts including Dr. Jekwu Ozoemene, Dr. Emeka Okengwu, and Mr. Olusheyi Ogunleye.
Notable attendees included Senator Buhari Abdulfatai, Chairman of the Senate Committee on Aviation, and Mrs. Olubunmi Kuku, Managing Director of the Federal Airports Authority of Nigeria (FAAN), alongside a cross-section of dignitaries and industry players.
The summit aimed to provide a roadmap for improving Nigeria’s civil aviation and air transportation systems through inclusive dialogue. Participants unanimously agreed on the need for stakeholders to demonstrate commitment and engage in intellectual exchanges to rejuvenate and rebrand the aviation sector.
Discussions focused on addressing challenges such as high interest rates on loans for aviation operators, particularly airlines. Participants proposed the creation of a Special Aviation Development Fund, which would be dedicated to enhancing infrastructure, improving safety measures, and building human capacity to drive sectoral growth.
Emphasis was also placed on the importance of Public-Private Partnerships (PPP) in the development of airport infrastructure, air navigation services, and aircraft maintenance, as well as the need for the NCAA to enforce regulatory standards without bias.
The summit concluded with calls for the adoption of inclusive regulatory dialogue in Nigeria’s civil aviation space, fostering greater stakeholder engagement, transparency, accountability, and collaborative decision-making. Regular feedback mechanisms were also recommended to ensure continuous improvement.
In addition, the NCAA was urged to take a proactive role in harnessing global aviation opportunities to contribute to national economic growth and development. The outcomes of the summit are expected to shape the future of the Nigerian aviation industry, focusing on financial sustainability and economic progress.