Air liberalisation to fetch Nigeria $128m incremental GDP, says IATA
IF African countries successfully implement the Yamoussoukro Decision (YD) which states that African skies be liberalised and allowed for unrestricted flight operations within African skies, Nigeria can earn additional $128 million into its coffers annually.
The International Air Transport Association (IATA) Regional Head, External Relations, Africa and Middle East, Adefunke Adeyemi, who spoke at the 2015 edition of Akwaaba African Travel Market held in Lagos, challenged African countries to take a bold step at fully implementing the YD, adding that the continent was losing its traffic massively to European carriers by not cooperating.
She said Africa as a whole can earn about $1.3 billion additional intercontinental GDP from the sector when full liberalisation takes effect, adding that it could even create millions of jobs apart from generating additional five million passengers.
As for overall impact on Nigeria, Adeyemi said over 17, 500 more jobs would be created, advising also that ‘creative partnership among the airlines can support liberalisation’.
She added that apart from ‘opening of new routes, the policy will lead to low fares leading to air traffic growth and increased trade.
“African traffic is carried by European carriers, if nothing is done about it, there may not be Africa aviation soon.