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The Minister of Aviation and Aerospace Development, Festus Keyamo, has revealed that over 100 airlines have collapsed in Nigeria over the past 40 years, underlining the high mortality rate in the country's aviation industry.
Keyamo shared these remarks at the 10th anniversary celebration of Air Peace, West Africa's largest airline, held in Lagos on Saturday, October 26.
"More than a hundred airlines have gone in the last 40 years," Keyamo stated, citing once-prominent carriers like Concord and Bellview. "If you look at the history of airlines in Nigeria, you'll discover that it's difficult for them to survive 10 years and still look healthy," he added.
Keyamo assured the audience that the current administration is committed to addressing this pressing issue and aiming to support the sector's growth.
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The minister attributed the troubling trend to systemic challenges despite Nigeria's position as a major hub for domestic air travel across Africa.
He referenced a Boeing study, noting that Nigeria contributes approximately 80% of the continent's domestic travel, with the Lagos-Abuja route ranked the busiest in Africa.
"We have the population, we have the traffic," he said, "So it is surprising that if we have this traffic, why are the airlines not surviving?"
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Meanwhile, Allen Onyema, Chairman of Air Peace, credited the airline's 10-year success to a vision that went beyond profit-making and focused instead on job creation and economic growth.
"Air Peace is a product of deep thinking and a desire to make a far-reaching impact in a country I love deeply. Profit was not the primary driving force behind its establishment," Onyema remarked.
Keyamo praised Air Peace as a testament to resilience, highlighting the airline's success as a model for future carriers.