Presidential sub-committee on Nigeria's aviation submits report requesting sweeping changes
Nigeria’s Presidential Aviation Intervention Sub-committee has reportedly submitted its report to the Federal Government, which offers solutions to challenges facing the airline industry in Nigeria (The Guardian – Nigeria, 19-Feb-2010). The report listed ten areas that airline operators wanted the government to give urgent attention to. Issues discussed include:
- The massive debt burden of Nigerian airlines to regulators, service providers, suppliers and financial institutions, calling on the government to introduce “financial transparency” into the industry and verify, reconcile and freeze all outstanding debt payments to the government,
- Creation of a Nigeria Airline Industry Revival Action-fund (NAIRA-Fund) where registered local airlines can access loan capital at subsidised interest rates with a 10-15 year repayment schedule,
- Creation of a “special window” for airline foreign exchange transactions,
- A proposed 50% reduction in landing fees at Nigerian airports up to the year 2020, the reduction in parking fees by 50% up to 2020, rental charges for office space at Federal Airports of Nigeria-managed terminals to be reduced by 50% up to 2020, and the lease rate for land at Nigerian airports to be reduced by 75% up to 2020.