Minister of Aviation and Aerospace Development, Festus Keyamo, has announced that Nigeria will take delivery of its first set of dry lease aircraft on October 6, 2025.
Gatekeepers News reports that Keyamo made the disclosure on Wednesday during the groundbreaking ceremony of Air Peace’s maintenance, repair, and overhaul (MRO) facility in Lagos.
A dry lease is an aircraft leasing arrangement that excludes crew members, with the lessee assuming responsibility for operations, crew, and maintenance.
In a statement, Tunde Moshood, the minister’s special adviser on media and communications, said the arrival of the aircraft marks a major milestone for Nigeria’s aviation sector.
“The minister also disclosed that the first set of dry-lease aircraft under new government-backed arrangements will arrive in Nigeria by October 6, 2025, a step that will further reduce capital flight and strengthen the industry,” Moshood said.
Background on the Deal
On August 4, Keyamo hinted that the federal government would soon conclude a dry lease deal — the first in nearly two decades.
He explained that such agreements are rare in Nigeria because foreign lessors have long expressed concerns about safety and asset recovery.
The minister, however, said recent aviation reforms have helped rebuild confidence in the sector.
In September 2024, Nigeria signed the Cape Town Convention (CTC) practice direction, enabling local airlines to access aircraft through dry lease agreements.
