President Bola Ahmed Tinubu has directed the Central Bank of Nigeria (CBN) to establish quarterly reconciliatory meetings with foreign airlines operating in Nigeria.<\/p>\n
<\/p>\n
This was announced by the Minister of Aviation and Aerospace Development, Festus Keyamo, during the ongoing African Aviation Summit in Abuja.<\/p>\n
<\/p>\n
Keyamo, while inaugurating the summit, highlighted the federal government’s commitment to addressing the challenges related to foreign exchange supply, which has led to substantial debts owed to foreign carriers. He emphasized that resolving the problem of trapped funds was one of the key objectives during President Tinubu’s recent visit to the United Arab Emirates (UAE).<\/p>\n
<\/p>\n
The International Air Transport Association (IATA) had sounded the alarm about foreign airlines struggling to repatriate over $500 million in funds. This financial quandary had even led Emirates Airlines to suspend its flights to Nigeria.<\/p>\n
<\/p>\n
Minister Keyamo also unveiled a trio of roadmap projects, including the development of an Aerotropolis, an Aircraft Leasing Company (ALC), and a Maintenance, Repair, and Overhaul (MRO) facility. Additionally, he outlined five strategic areas of focus aimed at positioning Nigeria as the aviation hub of Africa, which encompass infrastructure upgrades, the establishment of an aircraft leasing company, the creation of an MRO facility, and ensuring foreign exchange availability.<\/p>\n
<\/p>\n
The summit, attended by representatives from African civil aviation authorities, African airlines, airport authorities, and various aviation service providers, marks a pivotal moment in addressing the industry’s challenges and fostering collaboration within the African aviation community. It underscores the vital role of air transport in driving economic growth, job creation, and the attainment of the United Nations Sustainable Development Goals (SDGs), especially in light of recent global disruptions to international aviation.<\/p>\n","protected":false},"excerpt":{"rendered":"
President Bola Ahmed Tinubu has directed the Central Bank of Nigeria (CBN) to establish quarterly reconciliatory meetings with foreign airlines operating in Nigeria. This was announced by the Minister of Aviation and Aerospace Development, Festus Keyamo, during the ongoing African Aviation Summit in Abuja. Keyamo, while inaugurating the summit, highlighted the federal government’s […]<\/p>\n","protected":false},"author":2,"featured_media":1377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-1947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/1947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=1947"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/1947\/revisions"}],"predecessor-version":[{"id":1948,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/1947\/revisions\/1948"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/1377"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=1947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=1947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=1947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}