Aviation workers have issued a threat to close down the sector unless President Bola Ahmed Tinubu reconsiders the enforcement of a 40% Internal Generated Revenue (IGR) remittance by aviation agencies to the federal treasury.
Ben Nnabue, speaking on behalf of the National Union of Air Transport Employees (NUATE) during the 11th Quadrennial National Delegates’ Conference in Benin, Edo State, emphasized that the 40% deduction from aviation agencies’ revenue is detrimental to the industry. Nnabue urged President Tinubu and Finance Minister Wale Edun to provide special waivers for aviation agencies, expressing concern that the current deductions could lead to the collapse of these agencies, posing a severe crisis for the national economy.
He appealed for the cessation of double deductions and the granting of special waivers to ensure the aviation sector can fulfill its statutory duties. The policy aligns with Section 62 of the Finance Act 2020, allowing a 40% automatic deduction of federal agencies’ revenue to the Single Treasury Account (TSA).
