Nigeria's Aviation Sector Projects 25.7 Million Passengers, $2.58B Revenue by

December 2, 2025 at 03:54 PM•2 min read

Nigeria's aviation sector anticipates a surge to 25.7 million air passengers and $2.58 billion in annual revenue by 2029, as announced by President Bola

Key Points

1Nigeria projects air passenger traffic to surge to 25.7 million by 2029, up from 15.89 million in 2023, alongside a forecast of $2.58 billion in annual sector revenue.
2Significant investments include ₦712 billion for Lagos Murtala Muhammed Airport upgrades and new MRO facilities with Boeing and Cranfield University to cut $200 million annual capital flight.
3The nation aims to become West and Central Africa's aviation hub, achieving top rank in Africa for international aviation standards compliance and boosting low-cost aircraft financing.

Nigeria's aviation sector is poised for significant expansion, with President Bola Tinubu announcing projections for air passenger traffic to reach 25.7 million by 2029, a substantial increase from 15.89 million passengers handled in 2023. The Nigerian Civil Aviation Authority (NCAA) forecasts annual sector revenue to climb to $2.58 billion within the same timeframe. These ambitious targets underpin a broader national strategy to establish Nigeria as the dominant aviation hub for West and Central Africa, supported by plans to commence domestic aircraft component manufacturing.

To facilitate this growth, the federal government is heavily investing in modernizing its aviation infrastructure. Current initiatives include upgrades to six major airports and multiple runways, notably a ₦712 billion refurbishment project for Lagos Murtala Muhammed Airport. Furthermore, Nigeria has secured agreements with Boeing and Cranfield University to develop state-of-the-art Maintenance, Repair, and Overhaul (MRO) facilities. These new MRO capabilities, spearheaded by local operators like Aero Contractors and XEJet, aim to significantly reduce the estimated $200 million in annual capital flight currently spent on overseas aircraft maintenance.

The nation has also strengthened its international connectivity, marked by the resumption of Air Peace's direct Lagos–London service, the signing of new Bilateral Air Services Agreements, and the re-entry of Emirates and Uganda Airlines into the Nigerian market. Aviation currently contributes 2.5 percent to Nigeria's Gross Domestic Product, supported by a network of 20 airports and 23 domestic airlines. Demonstrating a commitment to global best practices, Nigeria now holds the top rank in Africa for compliance with international aviation standards, improving its Cape Town Convention score from 49.5 percent to 75.5 percent, which has notably enhanced domestic airlines' access to low-cost aircraft financing. Minister of Aviation and Aerospace Development, Festus Keyamo, emphasized that these developments position Nigeria to lead, innovate, and compete on the global aviation stage.