The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo SAN, is set to convene the maiden edition of the Nigeria Aircraft Acquisition and Investment Summit (NAAIS).
The landmark event will take place on the 1st and 2nd of April at the Federal Palace Hotel in Victoria Island, Lagos.
The summit represents a first-of-its-kind platform in Nigeria, designed to bridge the gap between the country’s aviation sector and the global capital markets. It will bring together international aircraft lessors, global aviation financiers, airline operators, airport concessionaires, policymakers, and institutional investors.
The core objective is to explore the vast potential of Nigeriaโs rapidly expanding aviation market and unlock new pathways for aircraft acquisition and long-term infrastructure investment.
According to a statement released by his Special Adviser on Media and Communications, Tunde Moshood, the Minister views the summit as a critical step in addressing Nigeria’s structural capacity shortfall.
Despite having Africaโs largest population of over 220 million, Nigeria currently ranks as the continentโs fifth-largest aviation market by seat capacity, operating approximately 1.16 million monthly scheduled seats.
This lags significantly behind peers like Egypt (2.98 million), South Africa (2.60 million), and Morocco (2.03 million).
The statement highlighted that this capacity gap does not indicate demand saturation but rather a substantial headroom for growth. With air transport serving as an essential mobility backbone due to limited rail alternatives, Nigeriaโs aviation market is poised for significant expansion.
Current passenger traffic stands at 15โ16 million annually, with projections estimating a rise to 25.7 million passengers by 2029.
“Nigeria presents one of Africaโs most compelling aviation investment opportunities,” the press release noted. “With a population exceeding 220 million people and air transport serving as an essential mode of mobility, the country offers a balanced return profile across airline operations and long-term airport infrastructure concessions.”
The summitโs timing aligns with continental trends. Africa is projected to be the fastest-growing aviation region globally, with passenger traffic expected to grow by approximately 6% annually through 2044.
The continent will require over 1,600 new aircraft deliveries between 2025 and 2044, and Nigeria is positioning itself to absorb a significant share of this expansion.
NAAIS will provide a strategic platform for structured dialogue between Nigerian operators and global lessors, the development of financing solutions tailored to local realities, and discussions on risk mitigation to enhance investor confidence. It will also focus on investment frameworks for the government’s airport concession programme.
The Federal Government, under President Bola Ahmed Tinubuโs Renewed Hope Agenda, is demonstrating a strong commitment to improving the ease of doing business in the sector.
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