COVID-19: Nigeria’s Aviation Industry To Lose Over $97bn Revenue In 2020 – NESG

Speaking at an event organ­ised by NESG and Federal Min­istry of Budget and National Planning, in conjunction with the Federal Ministry of Avia­tion in Lagos on Tuesday, Yu­suf said COVID-19 pandemic would reduce passenger traffic ranging from 56 to 60 per cent in 2020, adding that there is an estimated loss of $97billion or 57per percent of revenues in 2020.
According to him, “This re­ality means that Nigeria has to rethink how the aviation indus­try is set up and to prepare it to be more resilient for what will be an increasingly competitive industry.
“Today’s proceedings seek to examine Nigeria’s industry and seek to identify critical steps that will make Nigeria’s aviation sector more resilient and globally competitive.”
Also speaking, Senator Hadi Sirika, Minister of Avia­tion, said that 80 percent of air carriers in Africa do not have African origin.
Sirika noted that it has be­come pertinent to establish a robust national carrier that can take advantage of the po­tential of Nigeria and provide excellent services to the people.
Credit: independent.ng