The Minister of Aviation and Aerospace Development, Festus Keyamo, has officially unveiled the Nigeria Aircraft Leasing Company as part of a new strategy to ease aircraft acquisition challenges faced by domestic airlines.
The announcement was made during a stakeholders’ meeting in Abuja, which brought together airline operators, investors, and aviation regulators to discuss reforms in the sector.
Keyamo explained that the initiative aligns with the Federal Government’s broader plan to strengthen indigenous carriers through policies that encourage growth, stability, and improved operational capacity. He noted that progress in addressing Nigeria’s compliance issues under the Cape Town Convention played a key role in making the leasing framework possible.
According to him, the new leasing company will function as a Special Purpose Vehicle, created to help airlines access aircraft more easily rather than compete with them in the market. He also stressed that the structure will be largely driven by the private sector, with only limited government guarantees to support its operations.
The initiative has been welcomed by industry stakeholders, including the Chief Executive Officer of Ibom Air, George Uriesi, who praised the move as a significant and long-awaited reform that could improve airline efficiency and expansion within Nigeria’s aviation industry.
