On Thursday, Ben Nnabue, the National Union of Air Transport
Employees (NUATE), made this known at the 11th Quadrennial National Delegates’
Conference in Benin, Edo State.
According to him, the 40 per cent deduction from the revenue
of aviation agencies is unhealthy for the industry.
He stressed that no agency can survive the burden
considering the level of expenditure.
He urged the President and the Minister of Finance, Wale
Edun, to grant special waivers to agencies in the aviation sector.
“At the current revenue levels vis-à-vis expenditure levels,
and recognising the high level of regulation in the industry, it is impossible
for any agencies to sustain its operation under the present yoke of the Act.
“If the deductions continue, it is almost certain that the
agencies will collapse, which will spell a heavy crisis for the national
economy. Therefore, may I use this medium to appeal to President Bola Tinubu
and the Hon. Minister of Finance to stop the double deductions and then grant
special waivers to the aviation agencies without which the sector cannot
perform their statutory duties. I sincerely hope this appeal will be heeded in
the national interest,” he stated.
We learnt that the policy aligns with Section 62 of the
Finance Act 2020, which permits a 40 per cent auto deduction of federal
agencies’ revenue to the Single Treasury Account, TSA.