Local aviation can save at least $76 million in capital flight a year if given requisite regulatory and policy support to maximise the capacity of homegrown Maintenance, Repair and Overhaul (MRO) facilities.
Former Rector of the Nigeria College of Aviation Technology , Capt. Samuel Caulcrick, who agreed with the projection, noted that local MROs have shown capacity that should be optimised for a larger benefit for the economy.
Caulcrick noted that for those airplanes to keep operating in Nigeria, “it means it is our economy that is supporting them to fly” and no justification to keep shipping them overseas to grow other economies. “Then, you don’t have to pay for fuel to ferry the aircraft to and fro, which you were going to buy in dollars. So, those are the cost-saving advantages. Right now, Nigeria is losing taxes that are being paid to foreign countries instead of Nigeria, coupled with the depletion of foreign reserves.”
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