Investing in Nigerian Commercial Aviation: Opportunities and Risks Analysis for Investors in Nigeria's Growing Airline Industry
Nigeria's aviation industry has been in existence for over 80 years, with the first commercial flight in Nigeria dating back to 1931. The Nigerian Civil Aviation Authority (NCAA) was established in 1958 as the regulatory body for the industry, and since then, the Nigerian aviation industry has grown significantly. One of the major growth drivers of the Nigerian aviation industry has been the increase in the number of domestic and international travelers. The Nigerian National Bureau of Statistics (NBS) reported that there were over 7 million domestic air travelers in 2017 and this figure is expected to increase in the coming years due to the growing population, increasing disposable income, and a rising middle class. The country's economic growth, particularly in the oil and gas industry, has also led to an increase in international travel. The Nigerian government has also made efforts to improve the country's infrastructure and has begun investing in the expansion of its...