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Nigeria lost N1.25trn in 2021 to other African countries – FAAN

The Federal Airport Authority of Nigeria (FAAN), has revealed that Nigeria lost at least $2.5 billion (about N1.25 trillion) for maintenance of its aircraft to foreign Maintenance, Repair and Overhaul (MRO) facilities in 2021. Speaking on Tuesday in Abuja at the inaugural National Aviation Conferences (FNAC) organised by FAAN with the theme: ‘Advancing the Frontiers of Possibilities for Safe, Secure and Profitable Air Transport,’ the Managing Director of FAAN, Capt. Rabiu Yadudu, said that such capital flight would have been saved if the country had viable MRO facilities that could adequately cater for all types of aircraft. To typically carry out C-check on Boeing 737 aircraft or its others in its category, airlines spend at least $1.8 million and C-check is carried out on aircraft every 18 months. It should however be noted that airlines like Aero Contractors and 7Star own MROs. Yadudu said that Nigeria’s potential in the global air transport industry is underutilised as Nigeria has the largest fleet of aircraft within the subregion. He said: “It was reported that Nigeria lost $2.5 billion (about N1.25 trillion) in MRO investments to neighbouring countries. Having such investments here would have created more employment opportunities for Nigerians, revenue generation and training of technical personnel for maintenance of aircraft.

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