An expert in the aviation has attributed unpopular policies by the government, excessive aeronautical and regulatory charges and poor understanding of the global business climate as part of the reasons why investment in aircraft repair facilities and other projects are diverted to neighbouring African countries.
Chief Executive Officer, Tropical Artic Logistics Limited (TAL), an integrated logistic outfit, Femi Adeniji, in an interview, said unless the Federal Government and its agencies reverse the negative trend Nigeria would lose more investment in the sector.
According to Femi, “the country recently lost a $2.5 billion investment for setting up an aircraft maintenance repair and overhaul organisation (MRO) to Ghana on account of the unfriendly business climate.”
He continued, saying the facility would have been sited in Nigeria but the unfriendly system operated in the country forced the investors from the United States to divert it to Ghana.
He said Nigeria has lost many investment proposals in the aviation sector on account of the harsh hurdles set by the Ministry of Aviation, the airport and regulatory authorities.
He attributed the lack of Foreign Direct Investment (FDI) in the country to corruption in the system, stressing that the existing aviation policies and attitude of aviation authorities towards organisations and individuals that indicate interest in FDI has not been encouraging.
Source: thenation