President Bola Tinubu has called on investors across the globe to invest in Nigeria’s Aerotropolis projects promising tax breaks.
Tinubu stated this on Wednesday in Abuja at the 2023 edition of the African Aviation Conference and Exhibition.
The president also called for investments into the proposed Aviation Leasing Company (ALC) and the Maintenance Repair Overhaul (MRO), facility and infrastructure upgrade in the federal government operated airports.
The federal government said these efforts are imperative towards meeting the target of making Nigeria the aviation hub of Africa in the long term.
Represented at the event by the minister of Aviation and Aerospace Development, Barr. Festus Keyamo, the president said
“It is the vision of this current administration to make Nigeria the Aviation hub of Africa. In order to attract foreign investors the government is already looking at the following areas to improve Aviation business in Nigeria.”
While speaking on Aircraft Leasing Company the president said the “Government welcomes major players in aircraft leasing and head lessorsto invest in Nigeria airlines to provide state of the art aircraft.
Government will ensure enforcement of contract agreement and the rights of investors and indeed all parties are protected; and Nigeria being a signatory to the Cape Town Convention will uphold international obligations.”
On the issue of forex availability, the president also stated that his administration is committed to ensuring that forex is readily available to entrepreneurs as he has directed that the Central Bank of Nigeria (CBN), to hold quarterly reconciliation meetings with a view to resolve this issue.
He also said Nigeria CBN “is open to provide tax holidays to encourage existing and new entrants into the Nigerian Aviation sector. I wish to reiterate that my administration, will continue to sustain the support being given to the industry.”