The Minister of Aviation and Aerospace Development, Festus Keyamo, has advocated for the establishment of indigenous aircraft leasing companies, framing it as a critical step to deepen aviation financing and modernize the fleet of Nigerian airlines.
The call was made on Monday by the Minister, who was represented at the 2025 FAAN National Aviation Conference (FNAC). Keyamo argued that Nigeria’s improved legal framework for aviation financing and its status as a strategic aviation hub have created a prime environment for such ventures.
“With Nigeria’s significantly improved legal standing for aviation financing, the environment is primed for indigenous leasing firms,” Keyamo stated. “This is a direct opportunity to deepen aviation financing and support airline fleet modernisation.”
He emphasized that this move would enable local airlines to access finance more easily, allowing them to expand and update their fleets with more modern and efficient aircraft. Currently, many Nigerian carriers face significant hurdles in securing aircraft through foreign lessors, a challenge that homegrown leasing companies could alleviate.
Beyond aircraft leasing, the Minister also highlighted other key investment opportunities within the sector. These include the ongoing modernisation of airport infrastructure, the development of a regional Maintenance, Repair, and Overhaul (MRO) hub to save billions spent on offshore maintenance, and the creation of dedicated cargo and logistics hubs to boost exports.
Keyamo assured that government investment proposals are structured to attract private-sector capital through transparent public-private partnership (PPP) frameworks, reinforcing that “Nigeria is not only a large market; it is a strategic aviation hub.”
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