ExecuJet has received free trade zone (FTZ) approval at its MRO facility in Lagos, Nigeria, which it says will enable customers to save between 10 and 15 per cent on supply and maintenance services.
The launch of the FTZ means that parts and services, which would previously have incurred VAT and other costs from customs authorities, will be exempt from such charges. The approval also allows the company to keep consignment stock for a number of OEMs, which should lead to a quicker turnaround of parts for business aviation operators.
VP Gavin Kiggen says: “Obtaining the approval took approximately two years, during which time we had to demonstrate how the approval would benefit Lagos and Nigeria as a whole. We’re very proud that the successful negotiation of zero VAT and zero duties for ExecuJet customers has reached this conclusion.
“The FTZ is the latest addition to our services in Nigeria, after we welcomed a number of manufacturers to our facility in 2017. Our MRO in Lagos is on an exciting trajectory, and we expect this to continue as we serve our customers with ever-more competitive pricing.”