Allen Onyema, the Chief Executive Officer (CEO) of Air Peace, has revealed that domestic airlines spent $180 billion on spare parts and aircraft maintenance overseas.

?He made this revelation this week during the groundbreaking ceremony of its Maintenance, Repair and Overhaul (MRO) facility, which he said would help curb capital flight and position the nation as a continental hub for aircraft maintenance.

?The groundbreaking ceremony held this week at the Murtala Muhammed International Airport, Lagos and was attended by the Minister of Aviation and Aerospace Development, Festus Keyamo, executives of the Bank of Industry, Fidelity Bank, and other financial partners, aviation regulators, and stakeholders.

?Onyema described the event as the fulfillment of a nine-year dream delayed only by procedural and administrative hurdles. ?We paid for this land eight years ago, but nothing happened until the coming of President Bola Tinubu and the Minister of Aviation. In less than one year, they made it possible for us to stand here today. This is the first time Nigerian airlines are receiving massive support, and we at Air Peace are proud to be part of this history,? Onyema said.

?He then spoke on how Nigerian airlines spent over $180 billion last year on overseas maintenance and spare parts. ?This MRO will change that narrative. It will not only service Air Peace aircraft but also those of other Nigerian and international airlines. In the next 24 months, Nigeria will begin attracting direct foreign investment, as airlines from Africa, Europe, and the Americas bring their aircraft here,? he said.

?The project contractors, Morgan Omonitan & Abe, said the facility will occupy 32,000 square meters and feature a 6,200sqm hangar, a 2,000sqm warehouse, a 2,600sqm workshop, a 1,500sqm office building, and a 10,000sqm apron for aircraft parking. Additional infrastructure will include a car park, equipment shade, security house, utility and transformer buildings, and landscaped grounds, covering another 9,700sqm.

?The facility is projected to generate over 50,000 direct and indirect jobs, train a new generation of engineers and technicians, and significantly reduce capital flight. Technical support will be provided by Embraer of Brazil,

?Speaking at the event, Mrs. Ifeoma Uz?okpala, Executive Director at the Bank of Industry, hailed the collaboration between Air Peace and its financial partners as a truly strategic alliance. ?What has happened between us, Fidelity Bank, Dr. Allen Onyema, and Air Peace is that we formed a strategic partnership,? she remarked, pledging continued support for Air Peace and the wider aviation sector.

?Fidelity Bank?s representative, Executive Director. Mr. Abolore Solebo, also praised Air Peace?s vision and affirmed the bank?s commitment to the partnership. ?It was on the back of Air Peace?s idea and vision that Fidelity Bank established a proven first aviation desk. We thank you for that, and we will continue to work together. All other airlines have benefited from this, and we will keep supporting the industry,? he assured.

?Keyamo, on his part, described the project as a ?national treasure? with impact reaching far beyond Air Peace. ?This is not just Air Peace?s day; it is Nigeria?s day. This hangar will save us billions in foreign exchange, attract foreign airlines to Nigeria, and create unprecedented opportunities for our people. For the first time in decades, confidence has returned to Nigeria?s aviation ecosystem. That is why I personally stood as guarantor to secure aircraft leases for Air Peace and why I will continue to support all local airlines to grow.?

?He further assured that the presidential fleet would also patronize the MRO, calling it the ?cheapest, most effective, and best option for government.? (The Sun)

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