Business Aviation significant to regional development

Aviation Nigeria

Managing Director of Evergreen Apple Nigeria, Mr. Segun Demuren has said that opportunities within the aviation sector is significant to the development of Nigeria and other countries in the African region.

Demuren, who spoke at the first edition of the Nigerian Business Aviation Conference maintained that well explored the aviation sector is capable of driving the economies in the region.

He putlined the need for a better understanding of the value of business aviation as well as its significance in developing international business.

The conference, held in Lagos, was intended to provide a platform for raising awareness of the growing business aviation industry in Nigeria.

“Undoubtedly, Nigeria is a significant player in the business aviation sector for Africa and will play an important part in the development of the sector in the region.” Demuren said

Aslo speaking at the conference, Group Managing Director, Guaranteed Trust Bank, Mr. Segun Agbaje, outlined some requirements when considering aircraft financing.

Agbaje describe the Nigerian market as having experienced 'high octane growth' in the last few years, taking over from South Africa to become the largest market for business jet purchase in Africa.

“We are more used to financing rice and fish, so aviation is a good way for us to expand business.” Agbaje said

He also added that key elements in the selection of such high profile customers were the character and integrity of the customer which he pointed out were as important as collateral and assets.

Others in attendance which include officials of business jet manufacturers, including Gulfstream, Embraer, Dassault, Bombardier and Cessna, remained optimistic about the future growth of sales in the region.

Major considerations were aircraft sales, maintenance as well as service centers  Colin Steven who represented Embraer underlined the need for support, to train and identify local engineering specialists to support the expanding sector.

The panel also suggested that there was a strong market for smaller aircraft in the region with over 50 small airfields available that could be used by the turbo prop and light jet community.

Steven pointed out that: "The need for aircraft management expertise was highlighted in such a young market."