Nigeria: Air links or connectivity between Africa and Caribbean is going to increase as St. Kitts and Nevis promises to take the lead. The twin island nation is prepared to establish and utilise innovative financing mechanisms such as Minimum Revenue Guarantees (MRGs).
Prime Minister Dr. Terrance Drew made closing remarks at the Afri-Caribbean Investment Summit in Abuja, Nigeria. There he highlighted the urgent need to correct long-standing barriers to movement, trade and collaboration between both the regions.
PM Drew challenged the current realities they are facing related to travel and noted the inefficiencies and indignities faced by the travellers. This further emphasised the feasibility of direct air travel.
Reportedly, drawing the successful track record of the St. Kitts and Nevis in aviation development, Prime Minister Drew explained how the country has historically used MRG arrangements to attracts major international airlines. He declared the readiness of the federation to move first in bridging the aviation gap.
Considering this, Prime Minister Drew announced that when they are starting flights, they have something called an MRG. An MRG is set up so that the airline is guaranteed that it would not lose money. Even it requires an MRG, PM Drew will put a stake in the ground that St. Kitts and Nevis would move first to have it done.
Dr. Drew further announced that he improved connectivity that would unlock significant economic opportunities across tourism, trade, culture and investment. While it will also strengthen people-to-people ties.
Furthermore, the Prime Minister concluded that by calling for collective action from governments, investors and private sector partners to make direct Africa-Caribbean air travel a reality in the near future.
Prime Minister Drew of St. Kitts and Nevis also stated that he reflected on the outcomes of the Afri-Caribbean Investment Summit and the broader movement towards reconnection. Collaboration between them in the Caribbean and Africa can achieve great things, and as they continue to work together, they would achieve greater things. He emphasised that the partnership is rooted in shared history and in a shared future that is built on cooperation, trade and mutual advancement.