The Minister of Aviation and Aerospace Development, Festus Keyamo, says Nigeria is positioning itself to attract aviation financing and partnerships aimed at expanding airline fleets and strengthening the sector.
Gatekeepers News reports that Keyamo spoke on Wednesday at the Nigerian Aircraft Acquisition and Investment Summit 2026 (NAAIS) held in Lagos, which had the theme “Unlocking Capital, Confidence, and Capacity in Nigerian Aviation.” The event brought together government officials, investors, and industry stakeholders.
According to the minister, Nigerian airlines have for decades struggled with access to affordable and reliable aircraft financing, a challenge that has limited fleet renewal, route expansion, competitiveness, and operational efficiency.
He said the administration of President Bola Tinubu has identified aviation financing as a national priority and taken steps to reduce risks for investors.
Keyamo highlighted the strengthened implementation of the Cape Town Convention and Aircraft Protocol, including the issuance of the Federal High Court practice direction on aircraft leasing on September 12, 2024, as a key reform aimed at restoring investor confidence.
“These reforms matter because capital does not simply chase opportunity; it chases bankable certainty. And, Nigeria has worked to restore that certainty,” he said.
The minister added that the next phase of reforms would focus on developing financing structures such as leases, guarantees, insurance-backed arrangements, export credit support, and development finance partnerships to convert legal reforms into tangible fleet growth.
Keyamo said aircraft acquisition sits at the intersection of capital, confidence, and capacity, stressing that sustainable growth in the sector depends on modern fleets, financing certainty, institutional trust, and local maintenance capability.
He urged global financiers, aircraft lessors, original equipment manufacturers (OEMs), and development partners to deepen their engagement with Nigeria’s aviation market.
“We have strengthened our compliance architecture. We have improved creditor assurance. We have demonstrated progress on revenue repatriation. We are supporting local MRO development. We are investing in digital and institutional reform. We are pursuing cargo modernisation. And we are doing so in one of Africa’s most consequential aviation markets,” the minister said.
“What we seek now is partnership; partnership that unlocks affordable aircraft financing; partnership that supports fleet renewal and expansion; partnership that strengthens maintenance, training and technical capability; partnership that helps Nigeria become not just a market for aviation, but a platform for aviation growth across Africa.”
Okonjo-Iweala Calls for Broader Aviation Investment
Also speaking at the summit, Ngozi Okonjo-Iweala, director-general of the World Trade Organization (WTO), said addressing structural bottlenecks and improving aviation logistics is crucial for Nigeria to emerge as a manufacturing and export hub under the African Continental Free Trade Area (AfCFTA).
She stressed that aviation investment should go beyond aircraft acquisition by private airlines, noting that fleet expansion must be supported by sustained investment in airport infrastructure, air navigation services, and maintenance systems.
“Public-private partnerships offer a credible and proven path to mobilising private capital for airport modernisation and transport infrastructure. The model is straightforward in principle,” she said.
“When structured well, this partnership model can deliver world-class airports and logistic services in other parts of the world.”
Okonjo-Iweala also noted that government policies — including predictable taxation, market liberalisation, and the removal of bilateral restrictions on African carriers — are key to unlocking the sector’s full potential.
Lagos Reaffirms Support for Aviation Investment
In his remarks, Lagos State Governor, Babajide Sanwo-Olu, said aviation remains vital to trade, tourism, and economic growth.
The governor, represented by the state commissioner for commerce, cooperatives, trade and investment, Folashade Ambrose, said Lagos is investing in airport access roads, infrastructure upgrades, and the proposed Lekki Airport project to expand aviation capacity.
“We continue to work with federal authorities and private operators to improve safety, efficiency, and the overall travel experience,” he said.
“Beyond infrastructure, we understand that what investors are looking for is clarity. They are looking for stability, and they are also looking for opportunity.”
Sanwo-Olu assured investors that Lagos remains open to partnerships that will deepen investment, create jobs, and strengthen Nigeria’s position as a regional aviation hub.
