The Federal Government of Nigeria plans to establish an aircraft leasing company to strengthen local airlines and reduce their dependence on foreign lessors.
Minister of Aviation and Aerospace Development, Festus Keyamo, announced the initiative during the reception of Air Peace’s first dry lease aircraft, a Boeing 737-700, at Murtala Muhammed Airport Terminal 2 in Lagos.
Keyamo said the company would serve as an intermediary between Nigerian airlines and international lessors, with the government providing a sovereign guarantee to encourage investment.
He explained that the plan would enable airlines to access aircraft more easily, without navigating complex global negotiations alone. “We want to put an aircraft leasing company in place so that Nigerian airlines will not be the ones negotiating with the world,” he said. “Government must take care of that responsibility.”
The minister added that the leasing company would create a capital base prioritising local carriers as primary beneficiaries. “No other person can be the off-takers before the local airlines. We’ll soon be knocking on the doors of aircraft lessors and manufacturers to talk business,” he stated.
The initiative is expected to enhance the competitiveness of Nigerian airlines by allowing them to access modern, fuel-efficient aircraft and improve operational safety.
Keyamo described the arrival of Air Peace’s dry lease aircraft as a milestone for the aviation industry, commending the airline for its discipline and financial prudence. He urged other airlines to acquire more wide-body aircraft to compete globally.
Air Peace chairman Allen Onyema credited the minister’s support for the success of the lease process, noting that collaboration between the ministry, lessors, and the Nigeria Civil Aviation Authority (NCAA) has been key to progress in the sector.
Onyema emphasised that Air Peace remains committed to maintaining high safety standards. “We make sure our maintenance is top-notch. We are carrying the vision and aspirations of this country, and we will not fail Nigeria,” he said.
Representatives from Boeing, the NCAA, the Federal Airports Authority of Nigeria, and Fidelity Bank also attended the event. Boeing’s regional sales director, Moore Ibekwe, described the development as the beginning of a stronger aviation future for Nigeria and Africa.
