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Economy

Nigeria’s GDP can hit $1.5trn with new national carrier – Sirika

Nigeria’s Gross Domestic Product (GDP) could hit over $1.5 trillion if the new national carrier is fully operational.

Former minister of State for Aviation, Hadi Sirika, stated this during his ministerial screening in Abuja on Thursday.

Speaking to journalists after his ministerial screening, he promised to pursue the proposed national carrier to a logical conclusion if reassigned the portfolio by President Muhammadu Buhari in his second term in office.

In September 2018, the Federal Government had suspended the new national carrier, Nigeria Air, amid controversial circumstances.

The Federal Government is expected to own a maximum of 5 percent shares in the venture.

Sirika said: “I believe having a very vibrant private sector led national carrier is good for the economy of Nigeria, it is good for the population of Nigeria, it’s good for the centrality of Nigeria, it is good for the wealth and fortune of Nigeria.

“One aeroplane in Nigeria is equal to 300 direct jobs to start with. The relationship between GDP and air transportation is direct and we have the biggest GDP in Africa.

“By the US estimation we are a trillion dollar GDP, by official figures of the NBS, we are half a trillion dollar GDP. All those that are not included like the barber shop, like the ‘akara’ shop and so is considered we might be hitting more than $1.5 trillion GDP, we are 200 million people that will grow more than 400 million people in 2030.

“We are the centre, eco-distant to all locations in Africa, we are at the centre of the world we are highly mobile travelling people and this is why the prices of tickets are so expensive because we dont have alternative, we cannot match them, whatever they give we have to take. Its market, it is capitalism, we can run away from it, I think it is important.

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“If it is me or whoever is the minister, I think that this is a priority we will take, thank God a lot of job has been done”.

Source: businessday

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