The Federal Government is moving to establish a Nigerian aircraft leasing company aimed at helping local carriers overcome persistent challenges in acquiring and financing aircraft.
The initiative, which has been on Nigeria’s aviation agenda for over a decade, is expected to provide a major boost to domestic airlines struggling with fleet expansion.
The announcement was made by the Minister of Aviation and Aerospace Development, Festus Keyamo, during the unveiling of a newly arrived Air Peace dry lease aircraft in Lagos on Friday.
According to the minister, the plan is part of a broader effort to implement Nigeria’s 15-year aviation roadmap, with discussions already at an advanced stage with international investors.
“We have secured investors and are ready to start the Nigerian aircraft leasing company.
”This project is not for personal benefit; it is designed to support our airlines and enable Nigeria to negotiate directly with global partners,” Keyamo said.
The minister highlighted that one of the main hurdles for local airlines has been financing and leasing aircraft independently.
By establishing a government-backed leasing company, the Federal Government intends to provide sovereign guarantees and negotiate lease agreements directly with global lessors.
This approach is expected to reduce the financial burden on carriers and allow them to focus on operations and growth rather than struggling to secure aircraft individually.
“The leasing company will remove the guesswork and uncertainty for airlines.
”With the backing of the government and support from investors, carriers can access aircraft under more favourable and secure terms,” Keyamo said.
Keyamo described the proposed leasing company as a collaborative venture, in which both the government and private airlines contribute to a shared capital pool.
The structure is intended to ensure long-term sustainability while fostering cooperation between public and private stakeholders in the aviation sector.
The model, he said, would not only facilitate fleet expansion but also enhanced operational efficiency and strengthen the competitiveness of Nigerian airlines in the international market.
The minister stressed that the new initiative forms part of the administration’s broader strategy to revive and modernise Nigeria’s aviation sector.
This included building stronger partnerships with foreign investors, improving infrastructure at airports, and creating policies that promote the growth of indigenous carriers.
Keyamo noted that the Nigerian aircraft leasing company would help the country compete more effectively with foreign airlines while boosting local ownership and control over aviation assets.
“Our aim is to empower Nigerian airlines, create opportunities for expansion, and ensure they can operate on a level playing field globally,” he said.
The proposed leasing company marked a significant step in the government’s long-term aviation strategy, which had consistently identified aircraft acquisition and financing as major bottlenecks to sector growth.
