The Federal High Court in Lagos has renewed its order directing the Federal Government and domestic airlines to maintain status quo in their suit concerning the establishment of a proposed national carrier called Nigeria Air.
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CEO of Belujane Konsult, Chris Aligbe
Aviation industry stakeholder and Chief Executive Officer of Belujane Konsult, Chris Aligbe, in this interview speaks on the challenges in the aviation industry, even as he appeals to the federal government to support the parastatals to survive the economic challenges occasioned by the coronavirus. He also calls on the Asset Management Corporation of Nigeria to invite the founders of Aero Contractors and Arik Air and hold talks with them on the future of the airlines. Chinedu Eze brings the excerpts:
For some time now there has been an exchange of words between the Asset Management Corporation of Nigeria (AMCON) and the former management of Arik Air. While AMCON has said it met a hopeless situation when they took over Arik in February 2017; the airlineâs former management insists otherwise. So, what do you think?
The latest suspension order, scheduled to take effect on January 1, 2021, is contained in the 2020 finance act recently signed by President Muhammadu Buhari. x
A member of the bill drafting committee and West Africa Tax Lead, PwC Nigeria, Taiwo Oyedele, confirmed the development via a tweet yesterday.
The FG in June 2018 issued an executive order on the suspension of VAT in air transport. The Federal Inland Revenue Service (FIRS) claimed to be unaware of such a directive, hence it was never implemented.
Airline operators had complained that Nigeria is the only country that still charges VAT on air transport services. The VAT plus 36 other charges, according to the airlines, account for at least 40 per cent of total revenue and N10 billion in taxes yearly, leaving the airlines heavily indebted and in financial distress or both in most cases.