March 16, 2024

Only local investments can save Nigeria’s economy — Air Peace MD, Allen Onyema

Only local investments can save Nigeria’s economy — Air Peace MD, Allen Onyema

The Chief Executive Officer of Air Peace Airlines, Allen Onyema, has said the indigenous investments are the only mechanisms to revamp Nigeria’s economy.

He said this during a recent exclusive interview with Vanguard while explaining the contributions of Air Peace to the country’s aviation industry.

He explained that foreign businesses are good but only investments by the Nigerian people can save the country from economic mess.

“Nigerians were going to Rwanda, Morocco, Egypt even South Africa to go to London. To save money, they would fly down to South Africa (six hours) to get to London. No one can blame them,” Onyema said.

“Like I always say, it is only indigenous investments that can protect this country. Foreign investments are good, but you also have to encourage indigenous investments to stabilize and succeed. 

“Indigenous investments provide the real jobs and when the chips are down, they are the ones to save the country. 

“When I talked, nobody wanted to listen to me, but I beat my chest and I am happy today. I am absolutely happy for what I have done for this nation in the last few days.”

He also gave a breakdown of how his Air Peace Airline intervened to slash flight fares for Nigerians amid economic hardship.

He said this singular act has saved billions of naira for the country.

Onyema said, “Do you know the millions of dollars or billions of naira Air Peace has single-handedly saved for this country by what we did? 

“From N17 million, we brought a Business class flight to London down to N4 million. From N6 million we brought economy class flight down to N1.2 million and even afforded our students a further 15 per cent of the N1.2 million.

“What happened? Pandemonium in the aviation world. All the foreign airlines started scrambling for safety. They started scrambling for cover. Within 24 hours of Air Peace releasing its fares, those airlines brought their fares from N15 million to N5 million.

“As I speak to you, the fares are coming down. They are advertising and begging people on social media to fly with them.”