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Access ARM Pensions Exceeds N4trn AUM Post-Merger Asset  Access ARM Pensions Exceeds N4trn AUM Post-Merger Asset 

Access ARM Pensions Exceeds N4trn AUM Post-Merger Asset 

Access ARM Pensions, a subsidiary of Access Holdings, has exceeded the N4 trillion mark in assets under management (AUM), marking...

DMO Bond Auction DMO Bond Auction
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Federal Government to Raise N900 Billion Through Bond Auction
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Nigeria’s Inflation Decline to 15.15% in December 2025 Ignites Questions of Sustainability  
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MARKETS AND ECONOMY

Nigeria's economic growth 2026
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At 4.4%, Nigeria’s Economy to Outpace Global Growth Average in 2026 – IMF

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The Nigeria Tax Act: Some Important Changes in The Final Gazette – And Why It Matters for Businesses

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Editorial: Nigeria Must Harness the Aviation Boom to Propel Its $1 Trillion Economy Dream As global airlines approach the historic threshold of USD 1 trillion in annual revenues, a defining moment has arrived for Nigeria and the broader African aviation sector. What looks like a financial landmark on the world stage is, for Nigeria, a strategic opportunity to restructure and reposition its economy for rapid growth. According to the International Air Transport Association (IATA), the world’s airlines are projected to surpass $1 trillion in revenues, underpinned by resilient passenger demand and expanding trade flows. This milestone reflects not only a recovery from pandemic lows but a robust global appetite for air connectivity, cargo movement and international exchange. For Nigeria, which is targeting a $1 trillion economy, the aviation boom offers more than symbolic alignment, it opens pathways that can accelerate diversification, jobs creation and deeper integration into the global economy. Why Aviation Matters for Nigeria’s Economic Ambition At present, air transport directly contributes around $702 million in economic output and supports 39,500 direct jobs, according to IATA’s latest data. This accounts for about 0.2 per cent of Nigeria’s GDP. When broader effects across the supply chain, tourism and employee spending are included, aviation’s total annual contribution rises to approximately $2.5 billion, supporting over 217,000 jobs nationwide. These figures might appear modest against the backdrop of a $1 trillion GDP target, but they mask aviation’s catalytic role across multiple value chains. Aviation is not just about flights; it is about connectivity, competitiveness and commerce. Air transport enables rapid movement of people, goods and ideas. This feature is indispensable for a modern economic ecosystem. Unlocking Strategic Value: Three Priority Areas First, boost trade via cargo transport. Africa’s integration into global supply chains has often been hindered by logistics bottlenecks and slow sea freight corridors. The robust growth in air cargo, itself a response to tariff adjustments and supply-chain shifts — demonstrates the value of speed and reliability. Nigeria, with its large industrial and agricultural output, can capitalise on this by expanding cargo capacity, streamlining customs processes, and developing hubs that link West Africa to Asia, Europe and the Americas. Second, leverage tourism and hospitality linkages. Aviation’s role in enabling tourism is already visible and feasible: international visitors to Nigeria contribute an estimated $760 million annually through local spending on goods, services and experiences. Beyond direct airline revenues, this ripple effect touches hotels, transport services, cultural sites and retail — sectors critical to inclusive growth. If Nigeria can enhance visa facilitation, improve air connectivity and showcase its cultural assets, tourism-linked aviation can become a powerful engine of jobs and foreign exchange. Third, strengthen domestic and regional connectivity. Nigeria’s aviation ecosystem, with nearly 40 certified airlines and more than 30 airports, possesses the basic infrastructure for growth. What it lacks is seamless integration across domestic and intra-African routes, an area where initiatives like the Single African Air Transport Market (SAATM) and improved regulatory harmonisation can pay dividends. A more connected Nigeria fosters business linkages, reduces travel costs, and opens domestic markets to regional investors and consumers alike. Addressing Structural Challenges To translate global aviation momentum into tangible economic gains, Nigeria must address persistent barriers. High operating costs, inefficient regulatory frameworks and limited access to capital have hindered airline competitiveness and sidelined private investment. Policies that create a predictable and cost-efficient operating environment — including tax incentives, modernised infrastructure financing, and capacity building for critical skills — will be essential. Leadership in policy is equally important to see Nigeria’s national aviation strategy explicitly align with industrial and trade plans for 2030. Strategic aviation policies should integrate with tourism, manufacturing and export promotion frameworks, enabling air transport to function as an economic multiplier rather than a standalone sector. Conclusion: From Momentum to Measurable Impact The global aviation industry’s ascent towards a $1 trillion revenue era is not a distant spectacle; it is a present reality with clear implications for Nigeria’s development path. Rather than view aviation solely as an operational service, policymakers should see it as a strategic asset capable of accelerating Nigeria’s journey to a $1 trillion economy. By expanding cargo corridors, boosting tourism linkages and strengthening domestic and regional connectivity, Nigeria can transform aviation from a modest contributor into a dynamic engine of economic transformation. Done well, aviation can help Nigeria leapfrog structural constraints, diversify growth, and deepen its integration into the global economy — exactly the outcomes its trillion-dollar ambition demands. Editorial: Nigeria Must Harness the Aviation Boom to Propel Its $1 Trillion Economy Dream As global airlines approach the historic threshold of USD 1 trillion in annual revenues, a defining moment has arrived for Nigeria and the broader African aviation sector. What looks like a financial landmark on the world stage is, for Nigeria, a strategic opportunity to restructure and reposition its economy for rapid growth. According to the International Air Transport Association (IATA), the world’s airlines are projected to surpass $1 trillion in revenues, underpinned by resilient passenger demand and expanding trade flows. This milestone reflects not only a recovery from pandemic lows but a robust global appetite for air connectivity, cargo movement and international exchange. For Nigeria, which is targeting a $1 trillion economy, the aviation boom offers more than symbolic alignment, it opens pathways that can accelerate diversification, jobs creation and deeper integration into the global economy. Why Aviation Matters for Nigeria’s Economic Ambition At present, air transport directly contributes around $702 million in economic output and supports 39,500 direct jobs, according to IATA’s latest data. This accounts for about 0.2 per cent of Nigeria’s GDP. When broader effects across the supply chain, tourism and employee spending are included, aviation’s total annual contribution rises to approximately $2.5 billion, supporting over 217,000 jobs nationwide. These figures might appear modest against the backdrop of a $1 trillion GDP target, but they mask aviation’s catalytic role across multiple value chains. Aviation is not just about flights; it is about connectivity, competitiveness and commerce. Air transport enables rapid movement of people, goods and ideas. This feature is indispensable for a modern economic ecosystem. Unlocking Strategic Value: Three Priority Areas First, boost trade via cargo transport. Africa’s integration into global supply chains has often been hindered by logistics bottlenecks and slow sea freight corridors. The robust growth in air cargo, itself a response to tariff adjustments and supply-chain shifts — demonstrates the value of speed and reliability. Nigeria, with its large industrial and agricultural output, can capitalise on this by expanding cargo capacity, streamlining customs processes, and developing hubs that link West Africa to Asia, Europe and the Americas. Second, leverage tourism and hospitality linkages. Aviation’s role in enabling tourism is already visible and feasible: international visitors to Nigeria contribute an estimated $760 million annually through local spending on goods, services and experiences. Beyond direct airline revenues, this ripple effect touches hotels, transport services, cultural sites and retail — sectors critical to inclusive growth. If Nigeria can enhance visa facilitation, improve air connectivity and showcase its cultural assets, tourism-linked aviation can become a powerful engine of jobs and foreign exchange. Third, strengthen domestic and regional connectivity. Nigeria’s aviation ecosystem, with nearly 40 certified airlines and more than 30 airports, possesses the basic infrastructure for growth. What it lacks is seamless integration across domestic and intra-African routes, an area where initiatives like the Single African Air Transport Market (SAATM) and improved regulatory harmonisation can pay dividends. A more connected Nigeria fosters business linkages, reduces travel costs, and opens domestic markets to regional investors and consumers alike. Addressing Structural Challenges To translate global aviation momentum into tangible economic gains, Nigeria must address persistent barriers. High operating costs, inefficient regulatory frameworks and limited access to capital have hindered airline competitiveness and sidelined private investment. Policies that create a predictable and cost-efficient operating environment — including tax incentives, modernised infrastructure financing, and capacity building for critical skills — will be essential. Leadership in policy is equally important to see Nigeria’s national aviation strategy explicitly align with industrial and trade plans for 2030. Strategic aviation policies should integrate with tourism, manufacturing and export promotion frameworks, enabling air transport to function as an economic multiplier rather than a standalone sector. Conclusion: From Momentum to Measurable Impact The global aviation industry’s ascent towards a $1 trillion revenue era is not a distant spectacle; it is a present reality with clear implications for Nigeria’s development path. Rather than view aviation solely as an operational service, policymakers should see it as a strategic asset capable of accelerating Nigeria’s journey to a $1 trillion economy. By expanding cargo corridors, boosting tourism linkages and strengthening domestic and regional connectivity, Nigeria can transform aviation from a modest contributor into a dynamic engine of economic transformation. Done well, aviation can help Nigeria leapfrog structural constraints, diversify growth, and deepen its integration into the global economy — exactly the outcomes its trillion-dollar ambition demands.
Editorials2 weeks ago

Editorial: Nigeria Must Harness Aviation Boom to Propel Its $1 Trillion Economy Dream

As global airlines approach the historic threshold of USD 1 trillion in annual revenues, a defining moment has arrived for...
How Nigeria’s New Tax Law Could Redefine Risk in the Banking Sector How Nigeria’s New Tax Law Could Redefine Risk in the Banking Sector
MARKETS AND ECONOMY4 weeks ago

How Nigeria’s New Tax Law Could Redefine Risk in the Banking Sector

By BLAISE UDUNZE Nigeria’s new tax identification portal goes live nationwide tomorrow, Friday, January 1, 2026, marking a pivotal moment...
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Analyst Insight2 months ago

A Nation on Alert: Is FIRS’ Xpress Payments Move Consolidating a Revenue Cartel?

BY BLAISE UDUNZE Nigeria’s national mood is tense. The country is facing economic hardship, insecurity, public distrust in institutions, and...
The Emerging Trust Deficit in Africa’s Digital Economy The Emerging Trust Deficit in Africa’s Digital Economy
TECH WORLD2 months ago

The Emerging Trust Deficit in Africa’s Digital Economy

By Kayode Aladesuyi Globally, a 30-second clip of a CEO’s video or voice note, captured casually from a public interview...

General News

Health Emergency Initiative PROJECT BLOOM
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IMPACT: NGX Group, Lagos State and HEI Expand Project BLOOM to Alimosho

Nigerian Exchange Group Plc (NGX Group), in partnership with the Lagos State Government and the Health Emergency Initiative (HEI), has...

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