The rapid development of the airline industry in Nigeria is beyond doubt, and this is reflected in the large sum of money the Federal Government proposes to spend on the rehabilitation and repair of airports/airfields and air navigation equipment for fiscal year 2024.
According to proposed figures from the Executive of the Federal Government, no less than 23,085,000,000 Naira will be allocated for these projects. Of this sum, 20,985,000,000 Naira will be specifically dedicated to the rehabilitation and repair of airports/airfields, while 2,100,000,000 Naira will be allocated for the rehabilitation of air navigation equipment.
Under this budget proposal, a whopping amount of over N63.31 billion is also earmarked for the Ministry of Aviation and Aerospace Development and its affiliated agencies. The ministry itself will receive an allocation of N39.80 billion, while the Nigerian Meteorological Service will benefit from N13,199,789,935. The Nigeria School of Aviation Technology, Zaria will receive 5,500,235,528 Naira, and the Nigeria Air Transport Safety Investigation Bureau will be allocated the sum of 4,808,779,916 Naira.
Furthermore, it is interesting to note that the ministry and its agencies plan to spend over N1.39 billion on refreshment activities, meals, wellness packages and sports activities among others.
Among the ongoing projects, the ministry plans to spend N2 billion for the development of the Abuja Aerospace University, and N1 billion for the expansion of Wings D and E of the Murtala Mohammed Airport in Lagos.
Additionally, a sum of N500 million is earmarked for ongoing projects relating to safety and security, as well as certification of airports nationwide. A budget of N10 million is also allocated for the purchase of fire trucks for the airports.
Finally, the ministry plans to dedicate N60 million for the continued implementation of bilateral air safety agreements and multilateral air service agreements with countries such as Namibia, France, Netherlands, Switzerland , Portugal, United Kingdom, Russia, Senegal, Israel, Pakistan, Iran, South Africa, Eritrea, Venezuela, and many more.
These significant investments demonstrate the Nigerian government’s commitment to modernizing and improving the country’s airport infrastructure, while enhancing safety and quality standards. They also reflect the rapid growth of Nigeria’s aviation industry and its importance as an economic driver for the country.