Festus Keyamo, Minister of Aviation and Aerospace Development, has attributed frequent flight cancellations and high ticket prices for both local and international flights to a shortage of aircraft in the country.
In an interview with BBC Pidgin on Saturday, Keyamo highlighted the challenges within Nigeria’s aviation sector, including flight delays without prior notification, and assured the public that these issues would soon be addressed.
Keyamo revealed that one of the major problems Nigerian airlines face is the high cost of leasing planes.
Many airline operators, he said, struggle with leasing aircraft on wet lease terms, as they are unable to secure installment-based payments, partly because of foreign companies’ lack of trust in the Nigerian aviation market.
He explained that foreign aircraft leasing companies are hesitant to send planes to Nigeria due to concerns about financial dishonesty. These companies fear they would be unable to reclaim their planes if Nigerian airlines fail to meet payment obligations.
“I met with the people on the ground and asked them, and they told me that the money they pay to hire (rent) airplanes is too high,” Keyamo said. “The kind of airplanes they get are not the ones they can pay for in installments because the people who bring airplanes to Nigeria are afraid of Nigeria.”
To address these concerns, Keyamo noted that Nigeria has signed the Cape Town Convention, a law that ensures foreign companies can reclaim their aircraft if there is a breach in contractual agreements. This has led to significant improvements in Nigeria’s aviation rating, which increased from 49 percent to 70.5 percent.
“The law we signed states that if anyone brings an airplane into Nigeria, if there’s a problem, the government will allow them to take their airplane back, we cannot hold it,” he added.
The minister expressed optimism that as Nigeria strengthens its legal framework and more airplanes are made available, ticket prices for flights will decrease.
He also stated that the government is working on empowering Nigerian airline operators by encouraging partnerships with foreign airplane manufacturers, which will further boost the industry’s capacity and reduce operating costs for airlines.
Keyamo assured the public that these measures are part of the government’s broader effort to stabilize the aviation sector and improve passengers’ experiences.
