How we saved Nigeria from $112M aviation debt – Keyamo

Barely five months after suspending the Nigerian Air deal with the Ethiopians indefinitely, the Minister of Aviation and Aerospace Development, Festus Keyamo, has disclosed that President Bola Tinubu’s administration pulled out from the deal after a review showed the country will be recording losses should it continue with the contract.

Keyamo said that the deal would have placed a $112 million debt on the country aside from other investments listed in the agreement expected to last for 12 years as the country.

Aside from that, the minister noted that the agreement, if signed, would have empowered the Ethiopian Airlines management to determine what position in the management board goes to each partner investing in the Nigerian Air deal.

Keyamo, who disclosed this while responding to journalists on a popular television program on Wednesday, stressed that the agreement prepared for the Nigerian government to sign includes a tax waiver for all staff under the supposed airline for five years.

According to him, this deal would have terminated the local airline operations and crippled the country’s economy as all revenue realized from the agreement would have been lost to the Ethiopians.

While describing the Nigerian Air deal as one that could have caused the country’s aviation sector progress to nosedive, the minister stated that Nigeria was at a loss on the deal.

He noted that the President Tinubu administration reviewed the agreement and discovered that the deal would give Ethiopian Airlines a monopoly over Nigeria’s aviation industry, allowing them to dominate the market and reap most of the profits which led to the suspension.

Meanwhile, Keyamo said that the government policies and programs have prevented the influx of illegal arms and other contraband items brought into the country through private jet operators.

Keyamo explained that the ministry in collaboration with the National Security Adviser (NSA) has set up a taskforce to ensure private aircraft arrive and depart the country through a designated airport that allows for proper monitoring.

To avoid illegal charter operations, the minister mentioned that all private jets must have a Private Non-Commercial Flight (PNCF) license and will be subjected to thorough checks before leaving the designated airports.

Keyamo, who described some of the private flight owners as powerful individuals, noted that he would not accord anyone preferential treatment, saying this special treatment from the previous government allowed these operators to avoid checking at the airport.

As gathered, these private jet owners use this means to engage in illegal activities including drug trafficking and money laundering in the country.

The government, however, assured that implementations have been put in place to tackle the rising issues surrounding the aviation industry.