Nigeria, Saudi Arabia races for $6 trillion market Dividend in Critical Industry

From: Amadi Vincent Uzoma

The Minister of Aviation and Aerospace Development, Festus Keyamo, has revealed that cargo flight operations are poised to recommence between Nigeria and Saudi Arabia following a period of dormancy.
Keyamo made this known in a post on his official X (formerly Twitter) account on Tuesday.
The Aviation Minister mentioned that he had a discussion with Saleh Al-Jasser, Minister of Transport and Logistics of the Kingdom of Saudi Arabia on Monday, during the ongoing Future Aviation Forum (FAF) in Riyadh, Saudi Arabia, regarding the resumption of cargo flight operations.

The communication further indicated that both parties have agreed to restart cargo operations between Nigeria and Saudi Arabia, and individuals have been designated to sort out the details.
Airfreight transports goods worth over $6 trillion, representing about 35% of global trade value, as per the International Air Transport Association (IATA).
Nigeria and Saudi Arabia are aiming to tap into a portion of this significant global trade.
“The previous day, during the sidelines of the ongoing Future Aviation Forum (FAF) in Riyadh, Saudi Arabia, I engaged with my counterparts from the State of Qatar and the Kingdom of Saudi Arabia.
“In discussions with the Kingdom of Saudi Arabia, the main focus was on reviving cargo flight operations between the two countries that had ceased for years. Both sides agreed to restart the operations and appointed individuals to finalize the procedures,” part of the post stated.

Keyamo’s post on X mentioned his meeting with Jassim Saif Ahmed Al-Sulaiti, Qatar’s Minister of Transport, at the Future Aviation Forum in Riyadh, where they talked about implementing the Bilateral Air Service Agreement (BASA) and other shared interests.
The Aviation Minister has stressed several times that one of his key priorities is to reassess and ensure Nigeria’s compliance with BASA agreements due to unfavorable agreements that have negatively affected Nigeria’s aviation sector.
Recent advancements have demonstrated positive strides in Nigeria’s aviation industry, particularly in its connections with the Middle East, in spite of prior challenges.

An important development was Emirates Airline’s Deputy President and Chief Commercial Officer, Adnan Kazim, confirming the resumption of the airline’s services to Nigeria on October 1, 2024.
Emirates Airlines halted flight services to Nigeria in October 2022 because of challenges in repatriating funds stuck in the country.
The intended resumption of Emirates Airlines’s services to Nigeria is largely credited to President Bola Tinubu’s diplomatic trip to the United Arab Emirates (UAE) in October 2023.
During this visit, Nigeria’s President struck a deal with the UAE President to lift the visa ban on Nigerians and restart flights between the two nations.