Festus Keyamo will host the maiden edition of the Nigeria Aircraft Acquisition and Investment Summit (NAAIS) on April 1 and 2 in Lagos.
Gatekeepers News reports that according to Tunde Moshood, special adviser on media and communications to the minister, the summit represents a major step toward transforming Nigeria’s aviation financing landscape.
Moshood said the event will bring together international aircraft lessors, global aviation financiers, airline operators, airport concessionaires, policymakers, and institutional investors to explore opportunities in Nigeria’s aviation sector and discuss strategies for aircraft acquisition and infrastructure investment.
He noted that Africa is projected to be the fastest-growing aviation region globally.
“Africa is projected to be the fastest-growing aviation region globally, with passenger traffic expected to grow at approximately 6% annually through 2044. Within this trajectory, Nigeria stands as a natural anchor market for long-term aviation and airport infrastructure expansion,” the statement reads.
Moshood said despite its population size and economic potential, Nigeria’s aviation sector remains significantly underserved.
“Despite its demographic and economic scale, Nigeria remains structurally underserved in aviation capacity. The market currently supports approximately 15–16 million annual air passengers, with projections indicating growth to 25.7 million passengers by 2029 — a clear reflection of strong underlying demand.
“The country remains a key aviation gateway in West Africa, with direct international air links to over 30 destinations across Africa, Europe, the Middle East, Asia, and North America. This connectivity underpins trade, diaspora engagement, tourism, and business mobility, reinforcing Nigeria’s strategic role as a regional hub.”
However, Moshood said Nigeria still lags behind several African countries in aviation seat capacity despite having the continent’s largest population.
“However, despite having Africa’s largest population base — estimated at over 220 million — Nigeria ranks only as the continent’s fifth-largest aviation market by seat capacity. The country currently operates approximately 1.16 million monthly scheduled airline seats.
“In contrast, Egypt, with about 120 million people, offers roughly 2.98 million monthly seats; South Africa, with 65.5 million people, operates around 2.60 million seats monthly; while Morocco, with just 39 million people, provides approximately 2.03 million seats monthly. These comparisons highlight a significant capacity shortfall in Nigeria — not demand saturation — presenting substantial headroom for fleet expansion and infrastructure development.”
Moshood said the summit aims to address the capacity gap in Nigeria’s aviation sector and unlock investment opportunities.
According to him, Africa is expected to require more than 1,600 new aircraft deliveries between 2025 and 2044 due to passenger growth and fleet replacement needs, with Nigeria accounting for a substantial portion of that demand.
He added that the summit will create a platform for dialogue between Nigerian airlines and global aircraft lessors while exploring financing solutions suited to local airline operations.
The event will also examine investment frameworks for airport concession programmes, discuss risk mitigation strategies to boost investor confidence, and support the development of Nigeria’s aircraft leasing ecosystem.
“The summit reflects a deliberate policy shift towards structured engagement with international capital markets and aircraft leasing institutions, ensuring Nigeria carriers have improved access to competitive aircraft financing while positioning the country as a secure and bankable aviation investment destination,” Moshood said.
He added that the initiative is designed to bridge Nigeria’s aircraft capacity gap and stimulate the next phase of aviation-led economic growth by connecting global investors with regulators and industry operators.
