Nigeria's Keyamo Secures Global Lessor Interest for Crucial Fleet Modernization.

The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo SAN, recently led a high-powered Nigerian delegation to the prestigious Airline Economics Growth Frontiers Global Conference in Dublin, Republic of Ireland. The mission aimed to place Nigeria at the center of global aviation financing and Nigerian aircraft fleet renewal discussions. The delegation included key regulators and industry leaders, such as the Director General of the Nigerian Civil Aviation Authority (NCAA), Capt. Chris Ona Najomo, and chief executives from Air Peace, United Nigeria Airlines, and Ibom Air.

Reinforcing Global Credibility

Nigeria’s presence at the conference for the second successive year reinforced its growing influence. This engagement follows significant policy reforms at home. Notably, the government signed the Cape Town Convention Practice Directions in late 2024. This action helped raise Nigeria's Aviation Working Group (AWG) compliance rating to 75.5%. This improved score is critical for boosting international confidence. It helps secure better terms from global aircraft lessors and financiers.

Nigerian airlines face significant challenges. These include foreign exchange scarcity and high maintenance costs. Industry data shows a drastic reduction in the active domestic fleet. This has led to severe operational capacity Nigerian airlines constraints, causing flight delays and cancellations.

Strategic Partnership with AerCap

On Day Two, the delegation held a pivotal meeting with AerCap, the world’s largest aircraft leasing company. AerCap’s team was led by its Chief Executive Officer, Aengus Kelly. Discussions focused on a long-term strategic partnership AerCap alignment. The goal is to support Nigerian airlines’ access to modern fuel-efficient aircraft. This fleet renewal is essential for improving operational efficiency. It also enhances safety standards and reduces operating costs. These steps are vital for Nigerian airline competitiveness on regional and global routes.

Deepening Afreximbank Collaboration

Subsequently, high-level talks took place with Afreximbank. The Afreximbank team included Ms. Kanayo Awani, Executive Vice President, and Ms. Helen Brume, Director & Global Head, Project & Asset-Based Finance. The meeting reinforced Nigeria’s intent to deepen aviation financing partnerships. Afreximbank is a key player in African trade and finance.

The bank announced plans to launch a leasing subsidiary soon. This subsidiary will deliver 25 aircraft for lease to African carriers. This initiative aims to provide Nigerian airlines with access to dry-leased aircraft. The discussions underscored a shared commitment to a government-industry approach. This approach places aviation at the center of economic growth and intra-African trade. Developing financing frameworks is key to unlocking long-term value for Nigeria’s aviation ecosystem.

Through this proactive, market-facing aviation diplomacy, the Minister aims to ensure Nigeria remains attractive to investors. The ultimate goal is a stronger, safer, and more competitive aviation sector for the nation.

flying.flights is your source for accurate commercial aviation news and global aviation updates.

Get the latest updates on major hubs, regional terminals, and airport operations via the Airports section at flying.flights.