Aviation industry experts have disclosed that capital flight from the aviation sector in Nigeria had reached over $7 billion as at ending of last year.
The amount, according to them included the funds moved overseas by international carriers and money spent by local airlines for aircraft maintenance and spares.
Two years ago, the World Bank put the total money taken overseas from Africa to about $10 billion and Nigeria s contribution to about 60 per cent.
Nigeria is said to be the highest contributor to capital flight from Africa in the aviation sector because over 90 per cent of its international traffic is serviced by foreign carriers. Also,
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To cut down the huge resources taken overseas, inustry experts are of the view that Nigeria must have major maintenance facility,
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They noted that if Nigeria has strong airlines,
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That, they further argued will help to keep some money that are today taken overseas in the country as the local airlines would distribute passengers to domestic destination,
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Industry analyst, Francis Ayigbe said if Nigeria does not have Maintenance, Repair and Overhaul (MRO) facility her airlines will continue to repatriate huge resources to maintain their aircraft overseas.
According to Ayigbe, not having MRO facility has left Nigerian aviation sector many years with no choice than to take aircraft abroad for maintenance. He said airlines would ferry the aircraft to Europe, for example; it would pay for fuel,
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Depending on the level of maintenance and which country and facility, the average cost of C-Check is about $500,000 but it could be higher for express service.
Besides,
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Ayigbe posited that until Nigeria has a very strong airline that can compete with foreign carriers, the international operators will continue to dominate the nation s airspace,
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He also said the policy that will make it compulsory that foreign carriers must partner with domestic airlines will become possible when Nigerian airlines have consistent on-time-performance in their take-offs and landings as high as 80 per cent or above.
As long as Nigerian airlines are weak and fragmented,
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