Aviation Industry Key to Achieving $1 Trillion Economy – Okonkwo

The Chairman of United Nigeria Airlines, Prof. Obiora Okonkwo, has said that Nigeria’s goal of building a $1 trillion economy cannot be realised without significant investment and support for the aviation sector.

Speaking on Monday at the Nnamdi Azikiwe International Airport (NAIA), Abuja, during United Nigeria Airlines’ inaugural flight to Accra, Ghana, Okonkwo emphasized that the aviation industry plays a vital role in national economic growth and development.

He noted that Nigerian airlines face stiff challenges due to high-interest loans, stressing that access to single-digit credit facilities is essential for their sustainability and competitiveness.

> “We don’t need grants or free money from the government. What we need are loans at single-digit interest rates,” Okonkwo said. “The aviation industry is a catalyst for economic growth, and with proper support, it will help reduce capital flight and ease pressure on the naira.”

Okonkwo commended President Bola Tinubu’s administration for implementing policies that have supported airline growth, adding that without such policies, United Nigeria’s inaugural regional flight to Ghana would not have been possible.

He also praised the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, and the National Assembly for their commitment to advancing the sector, noting that Nigerian airlines are now more resilient despite past foreign exchange challenges.

> “Having survived the storm, we are now cruising,” he said. “We plan to expand to more international routes. Nigeria’s aviation industry is among the safest globally, for your pilots are well-trained, and our regulations are world-class.”


In his remarks, the Ghana High Commissioner to Nigeria, Ambassador Baba Ahmed, congratulated United Nigeria Airlines for expanding into Accra, saying the new route would boost competition and provide travellers with more options.

Similarly, Air Peace Chairman, Dr. Allen Onyema, urged Nigerians to support local carriers, stressing that collaboration among indigenous airlines would enhance productivity and revenue generation.

The Permanent Secretary, Ministry of Aviation and Aerospace Development, Dr. Ibrahim Kana, reaffirmed the government’s commitment to supporting local businesses, including airlines, adding that most of their demands were already being addressed.

Kana assured that the government would continue to design policies that strengthen domestic investment and foster growth in the aviation industry.