Photo caption: The Managing Director/ CEO, Financial Derivative, Bismarck Rewane
…Advocates For Consistency Policy To Attract Foreign Investors
The Managing Director/CEO ,Financial Derivatives, Bismarck Rewane has stated that the Nigerian aviation industry recorded losses to the tune of $3.5 billion due to poor infrastructure between 2020 and 2022.
This is just as he advocated called that Nigerian aviation policy must be consistent in line with global practice to attract international investors.
Rewane also contended that Nigeria should consider having a competitive hub system, preferably in Lagos and Abuja, investment in local Maintenance, Repair Overhaul (MRO)hubs capital.
He said this at the 29th annual conference of the League of Airports and Aviation Correspondents(LAAC) with the theme: ‘Financing Nigeria Aviation, Risks, Prospects and Opportunities ‘ in Lagos, yesterday .
Speaking further, the Financial Derivative boss said that the air transport industry contracted by 0.81 per cent in the first quarter of 2025, the 6th consecutive quarterly decline.
He pointed out that the contraction was as a result of poor Infrastructure and low viability of the airports in the country.
According to him, “Nigeria has 32 airports, only 20 were considered viable in 2024, and 92-96 per cent of traffic flows through just four.”
Nigeria, Rewane said has 23 active domestic airlines but that of these number only five airlines control 75 per cent of passenger traffic
In his words, “The industry is fragmented, domestic passenger traffic declined for the second straight year to 11.5 million in 2024. Due to poor infrastructure, Nigeria’s aviation sector lost $3.5 billion in revenue between 2020 and 2022.”
The Financial Derivative CEO warned airline operators against mismanaging airlines, arguing that with modern fleet they can break even with diversification
Photo caption: From left: COO of Murtala Muhammed Airport-Two (MMA-2), Mr. Remi Jibodu; Director of Finance and Account, Federal Airport Authority of Nigeria, Representing the MD of FAAN, Mr. Ayodele Olatiregun; MD/CEO, Medview Airline Plc, Alhaji Muneer Bankole; Representative of Kebbi State Governor, Mr. Habibu Kamba; Chairman, Association of AviationTraining Organization of Nigeria (AATON), Mr. Bankole Benard; Chairman, Air Peace, Dr. Allen Onyema; Chairman, League of Airport and Aviation Correspondents (LAAC), Mr. Suleiman Idris; CEO of CITA Energies Limited, Dr. Thomas Ogungbangbe and Representative of Former President Goodluck Jonathan, Mr. Ikechukwu Eze during the launch of the LAAC maiden edition Compendium at thevduring the 29th Annual LAAC conference with the theme: Financing Aviation in Nigeria: Risk, Opportunities, and Prospects in Lagos, yesterday, Thursday.
Other African airline he said to emulate Ethiopian airline’s model, which according to him has been profitable as a result of fleet scale, diversification (cargo, leasing) and hub efficiency
Speaking further, Rewane said, “Profitable airlines tend to have modern fleets, strong operational autonomy, and diversified revenue streams while loss-making airlines often rely on government subsidies, operate in low-demand markets, and suffer from inefficiency or mismanagement.”
He called for a very strong and effective safety regulation safety, while the government should focus on policy formulation and implementation instead of managing airlines or building airports directly.
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