Mul­ti­ple levies, taxes, greed ground­ing air­lines, says AMCON

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The Man­ag­ing Di­rec­tor/ Chief Ex­ec­u­tive Of­fi­cer, As­set Man­age­ment Cor­po­ra­tion of Nige­ria, Mr Ahmed Kuru, has said nu­mer­ous charges and taxes by reg­u­la­tory agen­cies are some of the fac­tors caus­ing air­lines fail­ure in Nige­ria.

he also blamed banks for rush­ing into the busi­ness of fund­ing avi­a­tion with­out the req­ui­site knowl­edge of the in­dus­try.

Kuru, who noted that avi­a­tion was Nige­ria’s most dif­fi­cult sec­tor to man­age, said there was a need for a com­plete over­haul of the in­dus­try’s mode of op­er­a­tion.

he gave the po­si­tion at an avi­a­tion lead­er­ship CEO’S round­table con­fer­ence to com­mem­o­rate the 10th an­niver­sary of Avi­a­tors Africa (mag­a­zine) in La­gos.

he said, “The fail­ure of many air­lines in Nige­ria and why those that are still op­er­a­tional are strug­gling is at­trib­ut­able to a litany of pe­cu­liar Nige­rian prob­lems in­clud­ing greed ex­hib­ited by air­line own­ers; fi­nan­cial ras­cal­ity, over­bear­ing charges and tax­a­tion by reg­u­la­tory agen­cies.

“Oth­ers are un­pre­dictable and un­sta­ble forex; nonex­is­tent good cor­po­rate gov­er­nance prin­ci­ples; lack of due dili­gence pro­ce­dure and other as­so­ci­ated risks as well as over- in­voic­ing, among other chal­lenges.”

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