Sirika lauds NSE, solicits private investment in aviation

The minister of state for aviation, Hadi Sirika, has lauded the Nigerian capital market for providing the enabling platform for corporate bodies to be availed of greater opportunities and positioned for better performance.

The minister also called on the private sector to take advantage of the opportunities provided by the federal government and the aviation industry to invest in the sector to further enhance the nation’s economy and the aviation sector in particular.

Making the commendation recently at the Nigerian Stock Exchange (NSE), Serika lauded the Exchange’s robust platform which has helped the exposure of highly-rated companies to global funds,  view, and acceptance.  He assured that the federal government is working towards restoring the past glory of the Nigerian aviation industry.

Sirika said that huge liquidity required to operate in the aviation industry buttresses the core weight and position of the industry.

The vibrancy of the aviation industry, Sirika said, also further enhances the effervescence of tourism in the country, hence tourism hinges on the aviation industry to excel.

“Finding money to operate in the sector underpins the aviation market and this further enhances the vibrancy of tourism and earnings of the country as well as the operators,” He said.

While decrying the depressed nature of the aviation industry, Sirika said that the federal government is working towards ensuring that prices of air travel decline to make room for a more vibrant sector with higher traffic and enhanced turnover.

He said that investors stand to gain from the investments through transformational initiatives of the federal government that will ensure better airports, low rates, and global standards. “I will tell you that the prices of tickets that are going up, I will translate it to more money for the airlines, but the government is pushing out policies to force the prices down and if the prices go down, that will translate to more passengers to the airlines”.

He assured that as soon as government’s effort at bringing down the cost of air travel in Nigeria becomes effective, earnings of airlines operators in the country will increase dramatically as they would have high volumes of passengers to contend with on daily basis. “Their earnings will increase and their passenger volume will also increase”

While urging for support of government’s policy direction, initiatives and programmes towards ameliorating the challenges in business environment, he assured that federal government is working towards positioning the economy and the aviation industry to a global standard.

“We are doing everything first and foremost to ensure that the aviation industry develops in such a manner that it will be of world class. The aviation, in particular, is regulated worldwide and is only one aviation industry worldwide”,

He said that his ministry is working towards aligning with global standards to provide services that are internationally acceptable, “part of this is why we are working towards positioning our airports to have them look like what is obtainable in other advanced countries of the world”

He called on the private sector to key into the progressive initiatives of the federal government towards restoring the past glory of the Nigerian aviation industry, by key into diverse opportunities provided by the government and the industry at large.