The federal government has revealed that in December 2023, the United Kingdom exported £185 million worth of goods to Nigeria while importing £154 million, resulting in a negative trade balance of £30.8 million (equivalent to N55.2 billion).
Speaking at the Murtala Muhammed International Airport (MMIA) in Lagos during the inaugural flight of Air Peace to London-Gatwick, Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, expressed the government’s commitment to reversing this trend in favor of Nigeria.
The ceremony, which saw the presence of key government officials including the Minister of Aviation and Aerospace Development, Festus Keyamo, and representative of the Foreign Affairs Minister, Ambassador Yusuf Tuggar, marked Air Peace’s reactivation of the bilateral air service agreement (BASA) with the UK.
Dr. Uzoka-Anite emphasized that Air Peace’s entry into the London route signifies more than just transportation—it symbolizes trade, investment, and collaboration between the two nations.
She highlighted the importance of Air Peace’s presence in London: “By choosing Air Peace, you choose to invest in Nigeria. You choose to empower local businesses, create jobs, and strengthen our economy.”
Minister of Aviation, Festus Keyamo, emphasized that Air Peace’s operations to London would not only lead to reduced fares but also contribute to strengthening the naira, as the airline would not face challenges in repatriating funds like other foreign carriers.
He assured that the government is prepared to reciprocate any unfavorable policies from the British government against Air Peace, emphasizing the federal government’s policy to support indigenous carriers.
Air Peace Chairman, Allen Onyema, disclosed that the London route would operate daily, aiming to address the concerns of Nigerians regarding high charges on the route. He further highlighted Air Peace’s expanding international footprint, with flights to various destinations including China, Saudi Arabia, South Africa, India, and regional routes.
Acting Director-General of Civil Aviation, Capt. Chris Najomo, advocated for a “fly Nigeria Act,” urging government officials to prioritize Air Peace for international trips and thereby support the growth of indigenous carriers.
