Amidst the worsening insecurity and economy of the Federal Republic of Nigeria orchestrated by the Muhammadu Buhari's administration, foreign investors are beginning to abandon the ship before it finally touches the sea bed.
The aviation sector has in recent time witnessed the most desertion by foreign investors as multiple airlines now consider Nigeria a high risk as well as economically unprofitable; no thanks to Buhari's administration.
Aero Contractor was the first to bow out of the Nigeria's space after more than 61 years of operation within the shores of the former fastest growing economy in Africa.
Thanklessly, household airline brand, Dana Air also called it a quit a few days after.
The negative implication is that thousands of Nigerians have been laid off, joined the Labour market as the economic becomes shrinker.
That however, is not the end of the ongoing concerning development in the aviation sector: other airlines still operating such as Arik Air, Air Peace, Ethiopia Airline and Ibom Air are currently doing so at the exorbitant costs; despite that,oftentimes leaves passengers stranded or wait for several hours.
The reason for the crippling aviation sector has been attributed to the dwindling economy of Nigeria which makes access to forex herculean for the airlines as well as the exorbitant costs of aviation fuel.
Regrettably, all these have culminated in the hike in cost of flight across the nation while the various airlines brands struggle for survival and those who found Nigeria as unprofitable destination for operation, take their leave; sadly, at the expense of the poor Nigerian masses.
Comments
Post a Comment