The Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has attributed the short lifespan of airlines in the country to corporate governance in the management of the airline business in the country.
Kuru, who was guest speaker at the third edition of the Nigeria TravelsMart Colloquium organised by the Nigeria a Travel Market (NTM) highlighted major challenges of airlines and airports blamed the incessant collapse of airlines in Nigeria on lack of corporate governance and adequate regulatory oversight in the management of aviation business in the country.
He also called on the Federal Government to concession the airports across the country as government have no business managing airports.
He said it was high time the government, the regulatory agencies and practitioners realised the important role of aviation in the development of a nation. He said, “The aviation sector is a catalyst for the economic development of nations. It is a wheel that drives economic activities. It facilitates trade, tourism, boosts productivity in the economy, improves efficiency in the supply chain, it is an enabler for investments and can spur innovation. Critically, it is a source of quality employment. For these reasons, it is a strategic sector deserving of a careful plot to greatness if Nigeria is to occupy its rightful place in the comity of nations.”
The AMCON boss whose presentation was themed “Corporate Governance and Airline Industry development in Nigeria,” also said that aviation regulatory bodies like the Nigeria Civil Aviation Authority (NCAA) must develop the courage to insist that corporate governance is adhered to adding that the industry is riddled with thousands of airline businesses that have failed due to lack of corporate governance as most board of directors are represented by family relations such as father, mother, son who have no competence to manage a business as fragile and sensitive as aviation.
