The Federal Government has announced a definitive move to establish a Nigerian Aircraft Leasing Company, a landmark initiative designed to dismantle one of the most significant barriers to growth for domestic airlines: the challenge and cost of acquiring aircraft.
The announcement was made by the Minister of Aviation and Aerospace Development, Festus Keyamo, who revealed that advanced discussions with global investors are now complete. This achieves a goal that has been stalled on the nation’s aviation roadmap for over 15 years.
“We have put in place a plan to start the Nigerian aircraft leasing company now, and we have secured investors,” Keyamo stated. “The idea is for Nigeria, as an entity, to negotiate directly with the world.”
This model represents a radical departure from the current system. Instead of individual carriers struggling to secure leases with limited financial backing, the government will provide sovereign guarantees, leveraging the nation’s collective creditworthiness to secure better terms and a more reliable supply of aircraft for the entire industry.
The company will operate on a collaborative, shared-risk framework. Both the government and local airlines will contribute to a pooled capital base, creating a secure financial structure backed by international investment. This system is designed to provide local airlines with streamlined access to aircraft through a dedicated national entity, thereby enhancing their operational stability and competitiveness.
The initiative signals a strategic intervention to finally provide the foundational support the aviation sector has long needed, moving it from a history of individual airline failures towards a future of coordinated, sovereign-backed growth.
