AVIATION INDUSTRY AND IMPLICATION FOR ECONOMIC DEVELOPMENT IN NIGERIA.
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AVIATION INDUSTRY AND IMPLICATION FOR ECONOMIC DEVELOPMENT IN NIGERIA.
Background of the study
Aviation has evolved into an important aspect of the country’s socioeconomic life. According to Igbatayo and Igbinedion (2014: 1), the aviation sector refers to activities that directly involve transferring people and products by air from one location to another.
The industry includes a variety of activities such as airline and transportation operations, general aviation aircraft maintenance, scheduled and chartered flights for passengers and cargo, and air traffic control and regulation. It also includes activities that directly serve air travellers, such as check-in and baggage
-handling and on-site retail and catering facilities (OEF, 1999), as quoted by Igbatayo & Igbinedion (2014:3).
It is vital to emphasise that the aviation sector is recognised as a strategic industry, not only because of its economic growth potential, but also because of its critical role in national development and international integration.
According to (OEF 1999), the most important contribution aviation typically contributes to the economy is through its impact on the performance of other industries and as a catalyst for their growth.
The aviation industry is a component of transportation infrastructure that many other parts of the
The economy is dependent. It contributes to economic growth by offering improved transportation links.
Across the economy. It facilitates international trade by offering a rapid transit network (Ismail et al 2014: 93).
Statement of the Problem
The aviation industry is a standalone sector that employs aviation personnel and provides livelihood opportunities for industry service providers. According to Owopoti (2014: 2), the industry promotes productivity growth because of its position as a rapidly rising sector that catalyses foreign direct investment, tourism, and associated
industries. This was emphasised further by (Perovic 2013: 57), who argued that the industry has a significant impact on the Nigerian economy, contributing about 4% of Nigeria’s GDP and creating approximately 159,000 jobs, as well as contributing to the tourism industry and foreign investment in the Nigerian economy.
He also mentions that the aviation industry promotes tourism and international business by offering the world’s only rapid global transportation network. However, Nigeria’s aviation industry has failed to contribute considerably to economic growth.
Despite the sector’s ability to produce jobs and stimulate the growth of other industries such as tourism and hospitality. The aviation business in Nigeria has been hampered by a lack of suitable infrastructure, among other issues.
This contradicting viewpoint expressed by the authors in their examination of the significance of the aviation industry in Nigeria’s economic development sparked interest in exploring this topic.
Many authors have investigated the aviation industry in Nigeria; some have suggested that the consequences have been beneficial, some have argued that they have been detrimental, and some have argued that the aviation industry has had no impact on Nigeria’s economic progress.
This study will address this gap in the literature by investigating the aviation industry and its implications for Nigerian economic development. The focus will be on the characteristics of Nigeria’s aviation sector since its start and how it has contributed to economic development.
GOALS OF THE STUDY
The primary goal of this research is to assess the impact of the aviation industry on Nigeria’s economic development. To attain this goal, the precise objectives are as follows:
1.) Examine Nigeria’s aviation sector since its inception.
2.) Investigate how the aviation industry’s actions have affected Nigeria’s economic progress.
3.) Examine the relationship between the aviation industry and economic development.
RESEARCH QUESTIONS:
1.) What is the Aviation Industry?
2. What is the relationship between the aviation sector and economic development?
3.) How does the aviation industry contribute to a country’s economic development?
4.) What implications does the aviation industry have for Nigeria’s economic development?
Significance of the Study
This study is significant because it offers a distinct perspective on the things that can contribute to Nigeria’s economic progress. It has been determined that little focus has been placed on the implications of the aviation industry in economic growth; so, investigating this topic will greatly contribute to the literature and provide more ways for the industry to be fully maximised in building the economy.
It will also assist student researchers in completely understanding the aviation sector and writing on the subject.
SCOPE OF THE STUDY:
This study examines Nigeria’s aviation industry since its inception, as well as its contributions and activities to the country’s economic development.
Research Hypothesis
1.) The aviation industry has no substantial association with economic development.
2.) There is a major link between the aviation industry and economic development.
Limitations of the Study
This study has a very small collection of materials. The aircraft industry is a critical part of the economy, and as such, adequate resources were unavailable.
Definition of Terms
1.) Aviation industry: this can be described as those activities that directly relate to carrying people and products by air from one point to another (Igbatayo and Igbinedion 2014:1).
2.) Economy: this is a man-made organisation designed to meet human needs. It is a system through which people earn a living.
3.) Economic development: It can be defined as the increase in economic riches of countries, regions, or communities for the benefit of their citizens.
Economic development, from a policy standpoint, can be defined as attempts to improve a community’s economic well-being and quality of life by creating and/or maintaining jobs while also supporting or growing incomes and the tax base.
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