Picture Source: The Next Edition
Chairman of United Nigeria Airline (UNA), Prof Obiora Okonkwo (OFR) has suggested that the Federal government should give half of the N500billion set aside as palliative to cushion the effects of petrol subsidy removal, as soft loan to aviation sector.
Okonkwo submitted that such amount would go a long way to boost the economy through the sector.
He said the outcome of giving N250billion as soft loan to entrepreneurs in the aviation sector or private sector would lead to be creation of more jobs, more foreign exchange earnings and more revenue to both the investors and government; while on the aggregate, the economy would receive significant boost.
Speaking at the second edition of the Annual All Markets Conference (AMC23) of Indigboamaka Progressive Markets Association with the theme: ‘Catalysing Partnership with Traders through Innovation, Technology, Analytical, and Sustainability, the UNA boss insisted that government should rather look at how it could use the savings from the fuel subsidy to strengthen investors in the private sector to stimulate the economic growth and wealth creation.
“I am one who always supports anything that can be done to help the people, I advise that if government has made up its mind to give out N500bn as palliative to Nigerians, there must be transparency and ensure that it gets to who needs it. However, I will always advise that giving palliative, handouts is never a solution to our problems, they should look at how they will use the savings from the fuel subsidy to strengthen business owners and the private sector, to stimulate the economy, to create wealth.
“If the Federal Government can set aside about N250 billion for the aviation sector as soft loans, not grant or free money to the aviation sector, what it means is that there will be more aircraft, which can be deployed to some of the new routes. It can also energise and capitalise on us going to the international routes.
“The outcome is that there will be more people employed, revenue generation by the airlines and the government will make more money. Flying overseas will bring about foreign exchange earnings and it will reduce the pressure on our foreign reserve. By and large, it will help people who don’t have jobs. This is not palliative, it will increase revenue, create wealth. My take is that while government is taking the other side of the handout, it is also important that they use the resources to strengthen the private business owners, these are the people who used their guaranteed capital to create wealth, jobs and grow the economy”, he said.
Also speaking on the the fuel contamination detected in Max Air aircraft, the UNA boss called the Nigerian Civil Aviation Authority (NCAA) to increase surveillance of aviation fuel suppliers.
He said CAA should only licence companies that meet the required standards of supplying Jet A1 to airlines.
“There are certain measures that are taken to before you accept or reject fuel. But more or less, while the crew are being, I will expect that the NCAA carry out audit on the suppliers, we have been calling for this audit before and ensure that anybody who has the permit to supply fuel to airlines is properly audited, and comply with rules. We don’t have to wait for incident, we can also control them before they cause any damage”, he added.
In his welcome address at the annual conference the National Grand Patron, Ndigboamaka Progressive Markets Association who urged all Igbo residing in Lagos State and any part of the country federation to always remember that their host is their shelter, reminded them that living in harmony and respect with their host and having at the back of their minds that the host community belongs to some people, saying there is more to gain from a United Nigeria.
“We invest in any place that we are welcome. Lagos State welcomes Igbo people and that is why we are able to help develop capacities and expand the economy. However, that Lagos state welcomes the Igbo does not in any way suggest that the land called Lagos (Eko) belongs to the Igbo. Geographically, the Igbo people have their homelands and that is why the aku luo uno philosophy must also appeal to our hearts.So, I will implore our Igbo brothers living and operating in Lagos as in other states of the federation to always remember that ana enwe obodo enwe,” he said.
The annual All Markets Conference which began in 2022, brought together traders from all 58 markets in Lagos State to brainstorm on ways to improve trade and commerce in the state as well as enhance relations with all stakeholders, in particular relevant government agencies and host communities.
