The Minister of Aviation and Aerospace Development, Festus Keyamo, has stated that the federal government has no plan to increase taxes in Nigeria’s aviation industry.
He revealed this on Tuesday during a webinar on “Repositioning the aviation sector for revenue generation and growth: Role of Legislation” organised by Olisa Agbakoba Legal (OAL).
Recall that there had been speculations of increased and multiple charges and taxes to be paid by airlines and service providers in the aviation industry.
However, the minister has dispelled such speculations, and assured that the government is committed to repositioning the country’s aviation sector with its five-point agenda.
He stated that efforts are being made to ensure blockage of revenue leakages in the sector.
“I have reviewed the progress made so far vis-a-vis the existing gaps. Accordingly, we are already looking at focus areas which are encapsulated in a five-point agenda, namely strict compliance with national laws and regulations; international obligations, improvement and development of infrastructure for passenger convenience, support for the growth and sustenance of local airline businesses, and human capacity development, and optimisation of revenue generation.
“As the Minister of Aviation and Aerospace Development, I am deeply committed to this agenda. In these challenging times, characterised by evolving market dynamics and global uncertainties, the need to reposition our aviation sector for sustainable growth has never been more pressing. It requires vision, resilience, finances, and collaboration.
“I am optimistic that stakeholders participating in today’s webinar session will build on their enviable track records to develop appropriate strategies for repositioning the aviation sector for revenue generation and growth through the instrumentality of legislation. As a government, we are committed to initiatives and policy inputs that will stimulate investment across the aviation value chain,” he said.
