Nigeria’s First Aerospace Show To Generate $50bn Investment

Nigeria expects to attract about $50 billion investments from local and foreign investors to the country’s aviation industry with her first ever international aerospace and airport show.
The aviation show is slated for October this year, according to the executive director of the International Aviation Management and Security (IAMS), Mr John Nwosu who dropped the hint while speaking with journalists in Abuja yesterday.
He said the Airport Expo held in Dubai in 2013 generated over $20 billion investment, while the Nigerian version which is planned to be done in five phases could generate investments worth $50 billion.
“The event will bring together participants from all over the world and it was intended to attract 50-billion-dollar worth of investment into Nigeria’s aviation industry through its international business forum,” Nwosu said.
While stating that the event was designed to shape tomorrow’s aviation and bring many countries into the new world order, Nwosu noted that hat the potential in the country’s aviation sector was yet to be harnessed, adding that Nigeria controlled the largest aviation market in the Central and West African region.
“The benefit of this programme for Nigeria is that it will attract investment into this country. We are planning that the first international Aerospace Show, Airport Expo and Business Forum will be held in Lagos and Abuja in October.
” The programme will enable the participants to collaborate and establish clear legislative frameworks, policy priorities, transparent governance systems and effective funding strategies for regional aviation growth,” he said.
He said while the Dubai event which was only about airports generated $20 billion, the coming one will comprise of conference, training, Aerospace Show, Airport Expo and International Business and will generate more.
“The event will bring together aviation professionals and stakeholders who will network, source their products requirements and create over $50 billion worth of business possibilities.
“It also targets to chart a sustainable path and, brainstorm on preventive strategy for the aviation sector,” he noted.
Nwosu said that the programme was also aimed at solving the numerous problems confronting the aviation industry not only in Nigeria but also Africa and the globe as a whole.
He added that during the programme, cabinet ministers in charge of aviation from the participating countries would meet in plenary to rub minds on many issues bordering on the development of the industry.

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