The Managing Director of the Assets Management Corporation of Nigeria, AMCON, Ahmed Kuru, on Friday said the aviation industry is seriously challenged.
Mr. Kuru, who spoke at a media parley in Ikoyi, Lagos, said the government needs to intervene in the industry, noting that the sector needs reform.
The AMCON boss noted that some of the entrepreneurs behave in rascally manners, adding that government intervention is urgently needed to salvage the industry.
Mr. Kuru, whose agency has taken over two of the largest indigenous airlines, Arik and Aero, due to mounting debt, lamented that airlines are not able to survive more than ten years in the industry.
He suggested that the sector needs to be overhauled, noting that the worrisome state of affairs in the industry is not only about poor management on the part of the investors.
“Aviation sector is seriously challenged,” he said, adding that,”not all investors are bad businessmen.”
The AMCON chief listed some of the challenges affecting the sector to include access to aviation fuel, corporate governance and infrastructure.