No Nigerian Airline Made $1M Profit, Says Air Peace Chairman

At the 30th anniversary conference of the League of Aviation Correspondents in Lagos, Allen Onyema, Chairman of Air Peace, declared that no Nigerian airline has achieved an annual profit of $1 million, despite significant revenue generation in the aviation industry. He highlighted the disconnect between public perception and the financial realities of Nigerian carriers, which are burdened by high operational costs, including taxes, regulatory charges, and fuel expenses.

Onyema argued that the government should not view airlines merely as a source of direct revenue, as they contribute indirectly to the economy through tourism and job creation. He pointed out that aviation contributes approximately $2.5 billion annually to Nigeria's GDP and supports over 217,000 jobs.

Onyema called for the elimination of the five percent Ticket Sales Charge and advocated for the harmonization of aviation taxes to reduce duplication. His views were supported by Olalekan Babalakin, represented by Remi Jibodu, who emphasized the potential of private capital in enhancing airport operations.