Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has revealed that the country’s aviation industry has a disturbingly high mortality rate, with over 100 airlines folding up in the last 40 years.
Keyamo made this disclosure at Air Peace’s 10th-anniversary celebration in Lagos on Saturday.
“We have a history of great mortality of airlines. More than a hundred airlines have gone in the last 40 years,” he said, citing examples such as Concord, Zenith, and Bellview.
The Minister attributed this phenomenon to underlying issues, which his administration is determined to address.
“When we came to office, we said there must be something responsible for this high mortality rate,” Keyamo stated.
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He highlighted Nigeria’s significant potential for air travel, citing a Boeing study that shows Nigeria accounts for 80% of domestic travel in Africa.
“The busiest route in the whole of Africa is the Lagos-Abuja route,” Keyamo noted.
Keyamo praised Air Peace for defying the odds and thriving beyond its first decade.
“Air Peace has survived for 10 years and keeps thriving. It indicates that it will be a great carrier of the future.”
Air Peace Chairman! Allen Onyema shared the airline’s vision, stating, “Air Peace is a product of deep thinking and a desire to make a far-reaching impact in a country I love deeply. Profit was not the primary driving force behind its establishment.”
