By Milcah Tanimu

Despite the launch of Air Peace’s inaugural flight to London-Gatwick, Nigeria disclosed a trade deficit of £30.8 million (equivalent to N55.2 billion) with the United Kingdom in December 2023. Dr. Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment, emphasized the government’s commitment to reversing this trend in favor of Nigeria.

Speaking at the Murtala Muhammed International Airport (MMIA) in Lagos during the ceremony marking Air Peace’s inaugural flight, Uzoka-Anite underscored the significance of the airline’s presence in London beyond mere arrivals and departures. She highlighted the potential for trade, investment, and collaboration, emphasizing that choosing Air Peace meant investing in Nigeria’s economy and empowering local businesses.

The launch of Air Peace’s direct flight to London comes six years after the reactivation of the bilateral air service agreement (BASA) between Nigeria and the UK. Despite the celebration surrounding Air Peace’s entry into the route, concerns about fare reduction and the airline’s survival were addressed by government officials.

Festus Keyamo, Minister of Aviation and Aerospace Development, assured that Air Peace’s flight to London would not only lower fares but also strengthen the Nigerian currency. He emphasized the government’s readiness to support indigenous carriers and hinted at potential aero-political challenges, stating that any unfavorable policies towards Air Peace by the British government would be reciprocated.

Keyamo highlighted the advantage of having Air Peace operate the London route, noting that unlike foreign airlines, the repatriation of funds would not put pressure on Nigeria’s currency. He reiterated the government’s commitment to facilitating a favorable environment for indigenous carriers to thrive, ensuring stability in the aviation sector and foreign exchange management.