The Nigerian aviation industry is experiencing a surge in new airlines, with Enugu Air launching its operations and Ibom Air expanding its services.
Meanwhile, several other states are preparing to open their airports, creating a competitive environment among state governors across Nigeria.
However, the growth in airline numbers comes at a time when passenger volumes are at an all-time low.
According to recent data, domestic air travel in Nigeria dropped from 9.47 million passengers in the first half of 2022 to 8.18 million in the same period of 2023, representing a decline of about 13 per cent.
Passenger throughput at Murtala Muhammed International Airport also plummeted from over 1 million in 2022 to just 781,894 in 2023, a 23 per cent decline.
These are fair records compared with 2024 and the current year when there is further nose-dive due to higher operational burden that led to an astronomical hike in airfare with the attendant consequences.
The economic burden has clipped personal incomes and eroded discretionary travel budgets, making airfares unaffordable for average Nigerians.
For instance, a Lagos-Abuja domestic ticket has surged beyond N150,000 compared to N79,000 in August 2023, a 56 percent spike.
International fares have ballooned even more, with London flights now costing up to £3,000, about five times more than pre-pandemic amounts.
Despite these challenges, some airlines are projecting significant profits. Ibom Air is looking into N150 billion rise in revenue as against N95 billion in 2024 while Enugu Air has projected ₦60 billion for this year.
However, industry experts are sceptical about the sustainability of these projections, given the current state of the industry.
Nigerian airlines already have a lot to contend with, including high operating costs, inadequate infrastructure, and limited access to maintenance, repair, and overhaul facilities.
The International Air Transport Association (IATA) has reported a 90.5 percent increase in passenger revenue for Nigerian airlines and other African nations between September 2021 and 2022.
However, airline numbers grow may not be sustainable in the current economic climate.
Aviation and tourism experts are calling for a multi-pronged approach to address the challenges facing the industry, including stabilising the naira, cutting aviation taxes, securing more liberal visa regimes, and restoring consumer confidence in both domestic and international travel.
With limited road and rail alternatives due to poor infrastructure, air travel remains critical for national connectivity.
Yet high costs and visa hurdles have suppressed its appeal.
To revive the industry, stakeholders must work together to address the challenges facing the aviation sector and ensure that air travel becomes more accessible and affordable for Nigerians.
READ MORE FROM: NIGERIAN TRIBUNE