Airline operators in Nigeria say failure to implement President Muhammadu Buhari’s Executive Order by the Nigerian Customs Service to exempt commercial domestic airline operators from Customs Tariff and Value Added Tax, VAT, may shut down airlines operations in coming weeks.
Speaking to reporters in Abuja while taking delivery of a new Aircraft of the Air peace in Nnamdi Azikwe international Abuja, the operators said some planes have been in the custody of the service custody for the past one month despite the presidential order signed late last year.
The waivers which were proposed to the President by the Minister of Aviation, Hadi Sirika, the National assembly Committee on Aviation and Airline Operators of Nigeria, AON, are expected to save the aviation industry about N3 billion to N5 billion annually depending on the level of transaction in the year and can also save up to five to seven per cent of the cost of an aircraft engine.
