1st int’l aerospace show targets $50bn investments

1st int'l aerospace show targets $50bn investme

Nigeria will be hosting its first ever international aerospace show, Airport Expo, aimed at attracting $50 billion Investment into the country’s aviation industry come October this year.

The Executive Director of the International Aviation Management and Security (IAMS) Mr. John Nwosu who disclosed this to aviation correspondents in Abuja said the event will bring together participants from all over the world adding that it was intended to attract $50 billion worth of investment into Nigeria’s aviation industry through its international business forum.

Nwosu said that 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.

For example, the Airport Expo that was held in Dubai in 2013 generated over $20 billion investment, while this one will be done in five phases and we are expecting $50 billion investment,” he said.

He explained that 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 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.

 

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