The Minister of State, Aviation, Hadi Sirika has urged entrepreneurs to invest in the aviation to ensure the growth and development within the industry, which he described as catalyst to economic development.
Sirika made the call at the Nigeroa Stock Exchange, Lagos when Nigeria’s major domestic airline, Med-View listed 9.75billion ordinary shares on Tuesday.
The Minister said, “The meaning of this listing is that there is growth and development within the sector in Nigeria. It also means that the airlines are getting healthier and it means that government is responsive and responsible enough to identify reason for setting up companies to be able to help, sustain and provide services to help Nigerians.”
“This is a plus for us and we implore entrepreneurs that are doing businesses within the aviation sector to follow the example Med-view has taken and ensure that going forward, they are promoting their businesses in such a way that they provide needed service for development of our country in general,” Sirika added.
The Minister noted that aviation has continued to play a very critical role in Nigeria and there are huge potentials and opportunities within the sector, especially with tourism that connects businesses, places and people.
“It will be good that government encourage people to set up leasing companies, banks amongst others and that will expand the economy and the numbers will be great as many countries are surviving though tourism,” he added.
Addressing investors at the NSE, Chief Executive Officer, Med-View Airline, Muneer Bankole, said Med-View was listing in order to enhance its cooperate value and brand image and to gain better access to long term capital from wide range of local and international investors.
Bankole also said the airline decided to list for better rating when obtaining credit facility from both local and international financial institutions and to boost the international image and profile of the airline.
He noted that aviation business is the fastest growing business and one that exposes the economy of a country to the international market despite the challenging the business is facing in Nigeria.
“Air transport is dollar driven and it is the fastest and most secured business. What we are going through in Nigeria is a test everyone should learn from and with the development from the federal government and encouragement that we have seen; it is for private individuals to ensure that they grow the market.”
“From our financial record five years ago, we have grown tremendously. We have moved from N3.6billion to 26billion in 2016 and we hope to grow more and with all the support and partnerships we have received, I think the future is bright for the company,” Bankole said.
THISDAY
