The Nigerian government has presented a detailed case for international investment in its aviation sector, assuring potential partners that significant legal and regulatory reforms have created a secure and profitable environment.
The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, delivered the pitch during his keynote address at the Nigeria-Belgium-Luxembourg Business Forum in Brussels on Wednesday, 22 October 2025.
Addressing the forum, which was convened to foster economic cooperation and mutual prosperity, Keyamo stated that Nigeria is reimagining its aviation sector as a cornerstone of national economic strategy.
“With over 30 airports, including five major international hubs, our air transport system serves as the lifeline of West Africa’s connectivity linking markets, facilitating trade, enabling tourism, and fostering cross-border collaboration that fuels regional prosperity,” the Minister who was represented by the Director General of the Nigerian Civil Aviation Authority (NCAA) Captain Chris Najomo, told the audience of distinguished guests and international business leaders.
A central part of his address was dedicated to the concrete legal frameworks now in place to de-risk investment. The minister spent significant time explaining how Nigeria’s adoption of international conventions has rebuilt credibility with global financiers.
“Nigeria’s ratification and implementation of the Cape Town Convention represent a landmark achievement in aircraft financing and leasing. By providing legal certainty for asset-backed financing, the Convention has mitigated investment risks, bolstered lender confidence, and streamlined aircraft acquisition processes, making them more cost-effective for Nigerian operators,” Keyamo said.
He further elaborated that “the adoption of the Irrevocable Deregistration and Export Request Authorization (IDERA) further guarantees investor security by safeguarding financiers’ rights in cases of default. This reform, according to the Minister, has enhanced Nigeria’s credibility among international lessors and financial institutions, unlocking new financing opportunities and fostering fleet modernization across our aviation ecosystem.”
Having established this foundation, the minister outlined a wide array of specific projects and sectors now open for partnership. “To accelerate growth, we are prioritizing key investment opportunities, including the expansion of airport capacities, the establishment of world-class maintenance, repair, and overhaul (MRO) facilities, and the optimization of cargo logistics, Green Aviation Projects, including solar-powered airports and carbon-neutral infrastructure, Financing Fleet Modernization through Development Finance Instruments (DFIs), Training Partnerships with the Nigerian Civil Aviation Authority (NCAA) for crew, pilots, and ground personnel; [and] Digital Innovation Integration to modernize air traffic systems and enhance safety analytics,” he detailed.
In his concluding remarks, Keyamo extended a direct and visionary invitation to European businesses, framing the opportunity in strategic terms. “The future of Nigeria’s aviation and aerospace industry lies not merely in expansion, but in transformation in, reimagining air transport as the engine of economic diversification”
“We therefore invite our partners here in Belgium, Luxembourg, and across Europe to join us in this journey, to co-invest, co-innovate, and co-develop the infrastructure, technology, and human capital that will define the next generation of aviation in Africa”, he said.
The event concluded with a reinforced commitment to international economic collaboration. Among the key attendees from Nigeria were Governor Seyi Makinde of Oyo State and Governor Abdullahi Sule of Nasarawa State.
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