The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has harped on the synergy between aviation and financial discipline for sustainable growth of the industry.
Keyamo said this during the inauguration and investiture of the Aviation Chapter of the Institute of Chartered Accountants of Nigeria (ICAN), held on Tuesday in Lagos.
The minister was represented by the Director of Special Duties at the Federal Airports Authority of Nigeria, Mr Henry Agbebire.
“I welcome this noble initiative, which aligns with our reform agenda in the aviation sector by fostering professional excellence, encouraging strategic collaboration, and championing ethical standards,” Keyamo said.
He noted that the newly established ICAN Aviation Chapter was poised to become a catalyst for promoting financial discipline and sustainable development throughout the aviation value chain.
“The synergy between aviation and finance cannot be overstated. From infrastructure development to operational sustainability, sound financial management is the engine that powers progress.
“I am confident that the programmes, advocacy, and thought leadership this chapter will introduce, will help bridge the gap between technical operations and financial stewardship,” he added.
The minister commended the pioneer chairman, Mr Ayodele Olatiregun, and his executive team for their vision and dedication.
He also assured them of the ministry’s full support in their collective efforts to build a stronger, more transparent, and accountable aviation sector in Nigeria.
Delivering the keynote address, guest speaker, Mr Nelson Wilbert, spoke on the theme: “Flightpath to Financial Excellence: Integrating Strategy, Systems, and Standards.”
“In aviation, a flight path is more than just a route—it’s a mission,” Wilbert said.
“It is the invisible yet vital corridor that ensures every aircraft reaches its destination safely, efficiently, and on time. It demands precision, adaptability, and unwavering focus.
“In the same vein, achieving financial excellence in our airports and aviation institutions is not a passive process;
.”It is a mission-driven endeavour that requires a deliberate, well-coordinated path—guided by strategy, empowered by systems, and governed by standards.
“Put differently, it requires strategy that anticipates, systems that empower, and standards that endure,” he concluded.
According to Wilbert, in an era marked by geopolitical shocks, economic uncertainties, climate change mandates, and evolving passenger expectations, financial strategy and decisions must align with broader institutional objectives and a higher purpose.
“Whether it’s achieving net-zero carbon emissions, expanding infrastructure, or increasing non-aeronautical revenue, our financial strategy must be visionary, flexible, and rooted in stakeholder priorities.
“An effective financial strategy considers both present realities and future possibilities.
“It emphasises capital efficiency, demand-driven investments, data-informed planning, and a performance culture that links financial goals with operational outcomes,” he said.
He also stressed that integrating strategy, systems, and standards was a continuous journey—one that demanded strong leadership, cross-functional collaboration, regular evaluation, and an unwavering commitment to excellence.
Wilbert said: “Financial excellence is not achieved by chance; it is the result of daily discipline, forward-thinking, and systemic alignment.
“This Chapter is more than a professional network—it is a coalition of changemakers. As chartered accountants, you are stewards of financial integrity.”
The Diamond President of ICAN, Chief Davidson Alaribe, called on the pioneer chairman to prioritise member training and professional development.
According to Alaribe, ICAN recognises the pivotal role of aviation in contributing directly to the country’s Gross Domestic Product.
He also noted the contribution of chartered accountant to the facilitation of credit and job creation, saying, effective financial management was indispensable to the sustained growth of the sector and its increasing impact on the national economy.
Alaribe appealed to the first executive committee to offer innovative leadership and ensure that members were equipped with the tools and knowledge needed to deliver financial impact and support the sector’s long-term prosperity.
“I assure you of the ICAN Council’s full and continuous support for the activities and programs of this new chapter, especially in your training initiatives,” he said.
In his acceptance speech, the pioneer chairman, Mr Ayodele Olatiregun, outlined the chapter’s foundation on three pillars: professional excellence, strategic collaboration, and sustainable systems.
Olatiregun emphasised that without strategic clarity, no organisation could truly soar—stressing the need for financial strategies in the airport and aviation sectors to align with operational goals, infrastructure development, safety, and sustainability.
“Our vision is clear: to become the go-to body for financial insight and integrity in aviation—not just in Nigeria, but across Africa and globally.
“The aviation industry is a vital engine of economic growth and connectivity. As accountants, we play a critical role in safeguarding its financial health and stability.”
He also announced key initiatives such as Elevate for the Skies and the Society of Women Accountants of Nigeria, citing the rapidly evolving nature of the aviation industry and the need for proactive adaptation.
The News Agency of Nigeria (NAN) reports that new executives were officially inaugurated during the event, which was attended by members of the Ikeja Chapter, representatives from other regions, and personnel from various aviation agencies(NAN)
