Minister of Aviation, Festus Keyamo, SAN, has vowed to further crash the prices of international flights.
The minister also explained measures he has embarked upon to ensure local operators take full control of Nigeria’s international routes in no distant future.
He said that his ministry, through the Renewed Hope Agenda of the Tinubu administration, is on course to break those barriers and make the environment conducive for both local and international airlines to strive.
The Minister said this while presenting his scorecard at the Ministerial Sectoral Press Briefings organised by the Federal Government to mark the First Anniversary of President Bola Ahmed Tinubu’s Administration
Recall that the briefing kickstarted last week, with the Secretary to the Government of the Federation, George Akume, inaugurating the series.
Speaking on the ill-treatment meted out to Nigerians by some foreign airlines, Keyamo said that his ministry was focused on empowering local operators so that they could be more in control in terms of aircrafts.
“Our focal area is to ensure that our local operators get access to lease aircrafts on good conditions. It is the key to unlocking this… it is the key.
“Empower them, make sure that they get aircrafts the same way Emirates gets, the same way British Airways gets; none of these people own those aircrafts.
“No banks finance aircrafts 100 percent all over the world. It’s not possible. It’s the manufacturers and leasing companies that do that.
“So Our people should have access, but why are they not having access? It’s because we’re in the black books of the international leasing companies simply.
“They put Nigeria on black book and tell everybody, ‘don’t give them aircrafts on dry list’. The only thing you get is a wet list. Wet list, means they don’t put the aircrafts in your total control.
“It means the leasing company will be partly in control. That’s why whites serve as pilots and hostesses at your local aircrafts. And it’s three times more expensive than a dry list. How do we escape from that?
“We’re almost there. It’s my focal area. Last week, the Chief Justice of Nigeria, Chief Judge of the Federal High Court, the Attorney-General of the Federation and myself, we held an early morning meeting.
“I said to everybody, look at this, let’s amend our practice directions. No court order to give injunctions to keep an aircraft here and they agreed with me. This is to give the investors full confidence.
“That’s what they asked of me. That once you assure us, give us this practice direction and we see backed by your judiciary, we’ll give you aircrafts.
“Once we get to that level, you’ll see competitions on international routes. We’ll crash the prices and crash it again and we’ll get very good aircrafts for Nigerians.
“We’re also begging the Nigeria Insurance Company. All the international leasing companies said they cannot face the risks in the local market here.
“If you give them the insurance, they’re going to reinsure again outside and that makes it double. So they’re telling me that they would rather face the risk in the international market,” he stated.
Flights prices will crash – Keyamo lists measures to help local operators
