The Founder of United Nigeria Airlines, Prof. Obiora Okonkwo, has expressed confidence that President Bola Tinubu’s $1 trillion economic target for Nigeria’s aviation sector is achievable, provided the right policies and support systems are in place.
Speaking at the airline’s 2025 annual staff retreat and its 4th anniversary celebration in Abuja, Okonkwo commended President Tinubu for revitalizing the aviation sector. He highlighted the positive impact of the administration’s foreign exchange policies, which have eased operational challenges for industry players.
He noted that issues such as restricted access to foreign exchange and trapped funds of foreign airlines—previously a major concern—have been significantly addressed under Tinubu’s leadership. According to him, operators now have smoother access to forex, making it easier to fulfill international obligations.
Okonkwo also praised the Minister of Aviation, Festus Keyamo, for introducing measures that protect domestic airline operators.
Reflecting on United Nigeria Airlines’ first flight in 2021, he recalled the difficulties faced during the COVID-19 pandemic and stressed the need for continuous government support to strengthen the industry.
He urged the authorities to create a single-window loan system for aviation financing, advocating for a lower interest rate of 3% instead of the current 30% charged by banks. He emphasized that Nigerian airlines compete globally with operators who have access to affordable loans, making financial support crucial for industry growth.
“If we continue in this direction, the aviation industry can achieve the $1 trillion economy that Mr. President envisions,” Okonkwo said. “Globally, the aviation industry contributes about $17 trillion in GDP, making it comparable to the world’s 15th largest economy. However, Nigeria’s share remains small due to a lack of sufficient support for local operators.”
During the retreat, Okonkwo also stepped aside from his role as chairman of United Nigeria Airlines to focus on his political aspirations, particularly his bid for the Anambra State governorship under the All Progressives Congress (APC). The event emphasized innovation, digital transformation, and leadership development as key drivers for the airline’s future growth.
