In December 2023, the United Kingdom exported £185 million worth of goods to Nigeria and imported £154 million, resulting in a trade deficit of £30.8 million (equivalent to N55.2 billion), as disclosed by the federal government,Daily Trust reports.
Dr. Doris Uzoka-Anite, Minister of Industry, Trade, and Investment, affirmed the government’s determination to reverse this trend in favor of Nigeria. She made this statement during a ceremony at the Murtala Muhammed International Airport (MMIA) in Lagos over the weekend, commemorating the inaugural flight of Air Peace to London-Gatwick.
The event was attended by Uzoka-Anite, Minister of Aviation and Aerospace Development, Festus Keyamo, and Ambassador Yusuf Tuggar representing the Minister of Foreign Affairs. The flight marked the revival of the bilateral air service agreement (BASA) between Nigeria and the United Kingdom, with Air Peace now offering direct flights to London after a six-year hiatus.
ALSO READ: Yobe SEMA Supports Gashu’a Varsity Inferno, Farmer/Herder Crisis Victims, Others
The entry of Air Peace into this route has significantly reduced fares. The federal government has pledged full support to ensure the airline’s success, with the Aviation Minister affirming that any treatment accorded to Air Peace will be reciprocated by the government.
Highlighting the significance of Air Peace’s presence in London, Minister Uzoka-Anite emphasized its role in boosting trade, investment, and collaboration between the two nations. She urged stakeholders to recognize the broader economic implications of choosing Air Peace for international travel, citing the opportunity to strengthen Nigeria’s economy and reduce trade imbalances.
The Minister of Aviation emphasized that Air Peace’s operations would contribute to stabilizing the naira by minimizing the need for foreign exchange repatriation. He assured that the government is prepared to counter any unfavorable policies from the British government that may affect Air Peace.
Air Peace Chairman, Allen Onyema, announced that the London route would operate daily, addressing the long-standing concerns of Nigerians regarding high travel costs. He also hinted at the airline’s expanding international footprint, with existing routes to China, Saudi Arabia, South Africa, India, and several regional destinations.
Capt. Chris Najomo, Acting Director-General of Civil Aviation, advocated for the enactment of a “Fly Nigeria Act,” urging government officials to prioritize Air Peace for international travel to further support the airline’s growth and development.
