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officials of the Federal Ministry of Aviation have begun negotiations
with the Central Bank of Nigeria (CBN), with a view to getting interest
rates on loans for prospective investors in the industry reduced to 9
per cent...
Nigeria’s apex bank had left the
country’s key interest rate unchanged at 14 per cent for more than a
year, but ahead of plans to concession key airports to private firms,
aviation ministry’s policymakers believe there is need to cut down
interest rate to single digit and provide a special funding window
particularly for local investors interested in the airports. The
government’s vision is to create one or two hubs from the concessioned
airports.
Commissioner/CEO of the Accident
Investigation Bureau (AIB), Mr. Akin Olateru, who disclosed the ongoing
meetings between the CBN and the aviation ministry, said the Minister of
State for Aviation, Mr. Hadi Sirika, had informed him that he was
heading the negotiation team for the ministry.
Olateru, who spoke while hosting union
leaders from the National Association of Aircraft Pilots and Engineers
(NAAPE) in his office in Lagos, said a reduction in interest rate would
go a long way in boosting standards in the industry.
“Sirika is working with CBN to ensure
that interest rates on loans to investors in the sector was not more
than 9 per cent. This would go a long way in improving standards in the
sector,” Olaturu said.
He also enjoined investors to allow
proven professionals to run their businesses, explaining that because of
the quality of work done by investigators in AIB, no airline, aircraft
or engine manufacturer had faulted the the agency on aircraft incident
or accident reports released so far.
Said Olateru: “The Minister of State for
Aviation, Sen. Hadi Sirika, recently told me that we should not rush our
reports so that it can’t be faulted by anyone. So, I took the time to
take him through the process to show him that our reports can’t be
faulted. Our reports are not done individually again.
“Now, we have groups comprising
experienced and inexperienced investigators. No one personalises reports
again. And after the groups have finished their work with the draft
reports, we send them to stakeholders for their comments and
observations. On getting feedbacks, we now do a general review, which
involves virtually all the investigators, before it goes out for proof
reading.”
According to Olateru, if members of NAAPE
comprising aircraft engineers and pilots in various organisations
displayed professionalism in the discharge of their duties, the Nigerian
aviation industry would experience more growth while the sector would
continue to remain safe for flight operations.
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