• About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Download Platform Times app
  • Privacy-Policy
  • Terms
Platform Times
  • Home
  • News
    • All
    • Metro
    • Science
    • World
    MAN BAGS LIFE IMPRISONMENT FOR RAPING 4 YEAR OLD DAUGHTER

    MAN BAGS LIFE IMPRISONMENT FOR RAPING 4 YEAR OLD DAUGHTER

    Dangerous Dating : Man Shoots Sister’s Boyfriend Over Love Affairs

    Dangerous Dating : Man Shoots Sister’s Boyfriend Over Love Affairs

    World Hijab Day: Al MUMINAAT Warns Students Against Negative Use Of Hijab

    World Hijab Day: Al MUMINAAT Warns Students Against Negative Use Of Hijab

    Zulum Threatens To Revoke Banks’ Land Over Failure To Dispense New Naira Notes

    Zulum Threatens To Revoke Banks’ Land Over Failure To Dispense New Naira Notes

    Four Arrested After Customs Officers Reject N2.7bn Bribe, Seizes Fake $6m

    Four Arrested After Customs Officers Reject N2.7bn Bribe, Seizes Fake $6m

    Ekiti court sentences ex-soldier, other to death for armed robbery

    College Lecturer Arraigned For Alleged Sexual Assault In Lagos

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Politics
  • Business
  • Education
    • Campus Times
  • Entertainment
    • All
    • Fashion
    • Food
    • Gaming
    • Lifestyle
    • Movie
    • Music
    • Travel
    Ladies should be free to woo men – Ugoccie

    Ladies should be free to woo men – Ugoccie

    BBtitans, Ebuka are distractions – Austin Faani

    BBtitans, Ebuka are distractions – Austin Faani

    Can alcoholic bitters prevent next pandemic?

    Can alcoholic bitters prevent next pandemic?

    My body not so succulent – Nancy Isime

    My body not so succulent – Nancy Isime

    AGN stands with Njamah, seeks ex-lover’s arrest

    AGN stands with Njamah, seeks ex-lover’s arrest

    Actress Uche Ogbodo ties knot, urges singles to hope on God

    Actress Uche Ogbodo ties knot, urges singles to hope on God

    • Lifestyle
      Can alcoholic bitters prevent next pandemic?

      Can alcoholic bitters prevent next pandemic?

      Five ‘demonised’ beauty accessories

      Five ‘demonised’ beauty accessories

      15 reasons you should drink enough water daily

      15 reasons you should drink enough water daily

      10 tips to manage morning sickness

      10 tips to manage morning sickness

      Shooting More than 40 Years of New York’s Halloween Parade

      Why Millennials Need to Save Twice as Much as Boomers Did

      Trending Tags

      • Golden Globes
      • Game of Thrones
      • MotoGP 2017
      • eSports
      • Fashion Week
  • Fact Check
  • Metro
  • Special Reports
No Result
View All Result
  • Home
  • News
    • All
    • Metro
    • Science
    • World
    MAN BAGS LIFE IMPRISONMENT FOR RAPING 4 YEAR OLD DAUGHTER

    MAN BAGS LIFE IMPRISONMENT FOR RAPING 4 YEAR OLD DAUGHTER

    Dangerous Dating : Man Shoots Sister’s Boyfriend Over Love Affairs

    Dangerous Dating : Man Shoots Sister’s Boyfriend Over Love Affairs

    World Hijab Day: Al MUMINAAT Warns Students Against Negative Use Of Hijab

    World Hijab Day: Al MUMINAAT Warns Students Against Negative Use Of Hijab

    Zulum Threatens To Revoke Banks’ Land Over Failure To Dispense New Naira Notes

    Zulum Threatens To Revoke Banks’ Land Over Failure To Dispense New Naira Notes

    Four Arrested After Customs Officers Reject N2.7bn Bribe, Seizes Fake $6m

    Four Arrested After Customs Officers Reject N2.7bn Bribe, Seizes Fake $6m

    Ekiti court sentences ex-soldier, other to death for armed robbery

    College Lecturer Arraigned For Alleged Sexual Assault In Lagos

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Politics
  • Business
  • Education
    • Campus Times
  • Entertainment
    • All
    • Fashion
    • Food
    • Gaming
    • Lifestyle
    • Movie
    • Music
    • Travel
    Ladies should be free to woo men – Ugoccie

    Ladies should be free to woo men – Ugoccie

    BBtitans, Ebuka are distractions – Austin Faani

    BBtitans, Ebuka are distractions – Austin Faani

    Can alcoholic bitters prevent next pandemic?

    Can alcoholic bitters prevent next pandemic?

    My body not so succulent – Nancy Isime

    My body not so succulent – Nancy Isime

    AGN stands with Njamah, seeks ex-lover’s arrest

    AGN stands with Njamah, seeks ex-lover’s arrest

    Actress Uche Ogbodo ties knot, urges singles to hope on God

    Actress Uche Ogbodo ties knot, urges singles to hope on God

    • Lifestyle
      Can alcoholic bitters prevent next pandemic?

      Can alcoholic bitters prevent next pandemic?

      Five ‘demonised’ beauty accessories

      Five ‘demonised’ beauty accessories

      15 reasons you should drink enough water daily

      15 reasons you should drink enough water daily

      10 tips to manage morning sickness

      10 tips to manage morning sickness

      Shooting More than 40 Years of New York’s Halloween Parade

      Why Millennials Need to Save Twice as Much as Boomers Did

      Trending Tags

      • Golden Globes
      • Game of Thrones
      • MotoGP 2017
      • eSports
      • Fashion Week
  • Fact Check
  • Metro
  • Special Reports
No Result
View All Result
Platform Times
No Result
View All Result
ADVERTISEMENT

Airlines, others rake in N146bn in nine months as aviation industry rebounds

by Online Editor
December 30, 2021
in Featured, News
Reading Time:2min read
0 0
0
Airlines, others rake in N146bn in nine months as aviation industry rebounds






ADVERTISEMENT

Estimated reading time: 9 minute(s)

The relaxation of travel restrictions occasioned by the COVID19 pandemic and increased economic activities during the year drove recovery in the aviation sector in the first nine months of 2021, a new report obtained by our correspondent revealed on Wednesday.

Airlines and other allies companies contribute the most to aviation sector.

Between January and September this year, output in the aviation sector rose to N146.6bn, from N114.2bn recorded in the corresponding period of 2020.

This shows an increase of N32.2bn in the sector’s contribution to the country’s Gross Domestic Product during the period under review.

According to the National Bureau of Statistics, aviation or air transport is one of the sub-sectors under the transport and storage sector.

Road transport, rail transport, water transport, transport services and post and courier services are the remaining five.

During the review period, the contribution of the transport and storage sector to the GDP stood at N2.4tn which was driven by the economic performance of road transportation (N2.2tn), air transport (N146.6bn) and transport services (N62.4bn).

In Q1, the aviation sector’s output rose to N53.8bn from N51.3bn recorded in Q1 2020 and in Q2, the sector’s contribution to the GDP stood at N26.5bn, higher than the N21.3bn recorded in the corresponding period of the previous year.

The transport and storage sector grew by 41.61 per cent, year on year, in nominal terms in Q3.

This rate was relatively higher than the figure of -35.06 per cent recorded in the corresponding quarter of 2020 but lower than the 112.56 per cent in the previous quarter.

However, all the six sub-activities under transport and storage industry recorded positive growth rates in the third quarter 2021.

In Q3, transport activities contributed 1.57 per cent to nominal GDP in, an increase from the 1.28 per cent recorded in the corresponding period of 2020, but lower than 2.09 per cent recorded in Q2.

In real terms, the sector grew by 20.61 per cent in Q3 2021, which represents an increase of 63.59 per cent relative to the same quarter of the previous year and a decrease of 56.20 per cent relative to the preceding quarter.

The contribution of the sector to real GDP in the Q3 2021 totaled 0.20 per cent, a rise from 0.18 per cent recorded in the previous year, and higher than the 0.13 per cent recorded in the Q2.

Meanwhile, the contribution of air transport to the GDP in Q3 surged to N66.3bn from N41.8bn recorded in Q3 2020.

Speaking on the development, an economist and a professor of Economics at the Olabisi Onabanjo University, Sheriffdeen Tella, attributed the recovery in the sector to the removal of travel restrictions that hindered air travel in the previous year.

He said, “Thanks to the lifting of travel bans, people have been able to move around more this year, as governments around the world roll out vaccinations for the COVID19 virus.”

“The increase in output can also be linked to the worldwide improvement in production, because now, unlike last year when COVID19 was ravaging the world, there is demand for some of the products we export including oil, so the increase in economic activities spurred increased production and export which drove improved output in the sector.”

He stated that while the growth in the sector was encouraging, it was less than desired, stressing the need for the government to implement policies and create an environment that would drive meaningful growth that could contribute significantly to the country’s GDP.

Estimated reading time: 1 minute(s)

ADVERTISEMENT

FOOTNOTE: Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 or email: platformtimes@gmail.com

ADVERTISEMENT
Previous Post

FG borrows N13.6tn via bonds in six months amid rising deficit financing

Next Post

LAUTECH: NANS praises Oyo govt over 25% tuition fee reduction

Online Editor

Related Posts

MAN BAGS LIFE IMPRISONMENT FOR RAPING 4 YEAR OLD DAUGHTER
News

MAN BAGS LIFE IMPRISONMENT FOR RAPING 4 YEAR OLD DAUGHTER

February 5, 2023
Dangerous Dating : Man Shoots Sister’s Boyfriend Over Love Affairs
Featured

Dangerous Dating : Man Shoots Sister’s Boyfriend Over Love Affairs

February 5, 2023
Ogun People Deserve Better Treatment, Says, Otegbeye
Featured

Ogun People Deserve Better Treatment, Says, Otegbeye

February 5, 2023
World Hijab Day: Al MUMINAAT Warns Students Against Negative Use Of Hijab
Featured

World Hijab Day: Al MUMINAAT Warns Students Against Negative Use Of Hijab

February 5, 2023
Mock Elections: Abiodun, LP Supporters Storm Polling Booths With Campaign Materials
Featured

Mock Elections: Abiodun, LP Supporters Storm Polling Booths With Campaign Materials

February 5, 2023
Zulum Threatens To Revoke Banks’ Land Over Failure To Dispense New Naira Notes
Featured

Zulum Threatens To Revoke Banks’ Land Over Failure To Dispense New Naira Notes

February 5, 2023
Next Post
LAUTECH: NANS praises Oyo govt over 25% tuition fee reduction

LAUTECH: NANS praises Oyo govt over 25% tuition fee reduction

ADVERTISEMENT
Platform Times Newspaper

Copyright © Platform Times Newspaper published by Pendulum Media

Navigate Site

  • About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Download Platform Times app
  • Privacy-Policy
  • Terms

Follow Us

No Result
View All Result
  • About Us
  • DONATE
  • Download Platform Times app
  • News
  • Fact Check
  • Special Reports
  • Politics
  • Metro
  • Education
  • Business
  • Health
  • Sports
  • Entertainment

Copyright © Platform Times Newspaper published by Pendulum Media

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist