Nigeria will receive its first set of dry-lease aircraft on October 6, 2025, nearly a year after the country exited the Aviation Working Group (AWG) watchlist.
The disclosure was made by the Minister of Aviation and Aerospace Development, Festus Keyamo, during the foundation laying of the Air Peace Maintenance, Repair, and Overhaul (MRO) facility at Murtala Mohammed International Airport, Lagos.
Keyamo said the aircraft, arriving under new government-backed arrangements, will reduce capital flight and strengthen the local aviation sector. Dry-lease models allow airlines more control over operations compared to wet-lease arrangements, improving competitiveness.
The announcement coincides with the construction of the Air Peace MRO facility, a ₦32 billion project on a 32,000 sqm site. Scheduled for completion within 15 months, the facility will include a 6,150 sqm hangar for wide-body aircraft such as the Boeing 777-ER, workshops, storage space, an administrative block, and a 5,000 sqm apron. It will serve both Nigerian and regional carriers, with technical backing from Embraer and financial support from the Bank of Industry, Fidelity Bank, and Zenith Bank.
Nigeria’s access to dry-lease aircraft had long been blocked after its blacklisting by the AWG due to defaults and non-compliance with the Cape Town Convention. However, reforms improved compliance, raising Nigeria’s score from 49% to 75.5% and enabling its removal from the watchlist in October 2024.
Industry analysts note that this breakthrough, combined with Afreximbank’s plan to support Nigerian carriers with 25 dry-lease aircraft announced in January 2025, positions the sector for stronger growth and regional competitiveness.
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