‘We’re eager to explore opportunities’ — aircraft producer seeks expansion into Nigeria
Diamond Aircraft, an Austria-based aircraft producer, says it is seeking local partners to enable it expand its manufacturing operations into Nigeria.
Bin Chen, the chairman of Diamond aircraft, disclosed this when his team recently visited Hadi Sirika, the minister of aviation.
The development comes amid renewed calls by the International Air Transport Association (IATA) for Nigerian authorities to allow the repatriation of foreign airlines’ revenue, now at $743 million.
Foreign airlines operating in the country have been battling with the federal government of over the trapped funds.
IATA had said the increasing backlog of international airlines’ blocked funds could spook investors who may be willing to enter the Nigerian market.
Speaking at the meeting with Sirika, Chen said his company is eager to explore the opportunities available in the country.
“We are looking for a partner who can help us bring our aircraft to the Nigerian market and ensure that they meet the highest standards of excellence,” he said.
“We believe that there is a great opportunity here and we are eager to explore it.
“We are excited to explore the potential of the African market and to meet with local partners who can help us establish a strong presence in Nigeria.
“We believe that Nigeria has great potential for growth, and we are eager to be a part of that growth.”
On his part, Sirika said the firm’s expansion plans would boost the country’s aviation industry.
He said Nigeria has a flexible regulatory procedures.
“You are in the centre of Africa and since you are producing for Africa, you cannot go to the coast to produce, so, Nigeria is your best location,” the minister said.
“We also have a very flexible civil aviation requirement. So, the government of Nigeria is welcoming you with open arms to come and set up.
“There is also a lot of charter business in Nigeria and a chartered aircraft is between $9000 to $12,000 per hour. So, there is a huge market in Nigeria. So, if you are in Africa and you are not in Nigeria, then you are not in Africa.”
Sirika further said the company’s interest in Nigeria aligns with the new maintenance repair and overhaul facility that had just been established through partnerships in the country.
He added that that with over 14,000 aircraft engineers and mechanics in the country, Nigeria is well-equipped to handle the maintenance needs of the aviation industry.
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