The Nigerian aviation industry must prioritize collaboration, consolidation, and credible data to overcome its current challenges and achieve sustainable growth, according to industry experts. Speaking at the 28th annual conference of the League of Airport and Aviation Correspondents (LAAC) with the theme “Aviation Survivability Amidst A Challenging Macro-Economic Environment,” several panelists highlighted the critical need for these elements.
Mr. Olaniyi Adigun, Chairman of the Aviation Ground Handling Association of Nigeria (AGHAN), emphasized that without collaboration and consolidation, the aviation sector would continue to lag. Drawing parallels with the financial sector, Adigun noted that no organization or airline could operate successfully in isolation, especially given the soaring exchange rates. He warned that businesses in the sector would collapse without partnerships.
“It is not rocket science that the industry is where it is today; the dollar is rising against the naira. We all need to know that aviation is a business, and when we talk about business, we talk about profitability and data collection. How do we sustain the Nigerian aviation business? We need to have an economic summit where we open the doors to investors; we need to open up. What are these challenges facing us? This is very important. We cannot continue to stand alone,” Adigun said.
Mr. Bankole Bernard, Group Managing Director of Finchglow Holdings, advocated for a central data system to unify and verify data across the industry. He pointed out that different agencies release diverse data, making it difficult for the sector to thrive without a consistent data foundation.
“It is impossible for us as an industry to survive without having a central data system. Without a central data system, on what basis are we formulating our policies and on what basis are we making plans? On what basis are we thriving in business?” Bernard asked. He argued that with a central data system, 50% of the challenges in the sector would be resolved.
Adigun also stressed the need for authentic data gathering, highlighting that the lack of reliable data hampers the industry’s progress. He called on the Nigeria Civil Aviation Authority (NCAA) to emulate the Central Bank of Nigeria (CBN) in providing believable data for the industry.
“You can’t do business without data. The CBN forecasts in the banking industry and it can tell you the growth or diminishing rates in the sector, but who is doing that in the aviation industry? How do we get the data? And without data, you cannot do business at all,” Adigun said.
Both Adigun and Bernard called on the government to create an enabling environment for businesses to thrive and to ensure policy continuity. Bernard lamented the adverse effects of the declining naira against the dollar on operations and urged the government to initiate supportive policies.
“Unfortunately for us as an industry, everything about us is dollarized and that has a lot of impact on our operations. I believe that the government can initiate policies that will support the industry. There must be policies that will sustain the industry by helping it to stay afloat,” Bernard noted.
Technological Integration in Travel Management
Adejoju Olutimayin, Managing Director of FCM Nigeria, emphasized the need for comprehensive travel management solutions, incorporating technology to enhance corporate travel management. She highlighted the use of AI, machine learning, and data analytics to provide personalized travel experiences and optimize travel spend.
The conference saw various aviation professionals and experts discussing the theme and calling for immediate action from the government to address these critical issues. The consensus was clear: for the Nigerian aviation industry to thrive, it must embrace collaboration, credible data, and supportive government policies.
