The Minister of Aviation and Aerospace Development, Festus Keyamo has declared Nigeria’s readiness to attract global aviation financing and partnerships, as the Federal Government intensifies reforms aimed at strengthening investor confidence and expanding the country’s aviation capacity.
Speaking at the Nigeria Aircraft Acquisition and Investment Summit (NAAIS) held in Lagos, ongoing 1st April, 2026, the Minister said Nigeria has moved beyond aspirations to concrete reforms designed to unlock capital, build confidence and expand industry capacity.
He noted that Africa’s aviation sector presents significant growth opportunities, citing projections by aircraft manufacturers Airbus and Boeing, which estimate that the continent will require over 1,200 new aircraft in the coming decades to meet rising passenger demand and economic expansion.
He explained that limited access to affordable aircraft financing has historically constrained Nigerian airlines, affecting fleet renewal, route expansion and operational competitiveness. However, he said the Federal Government has implemented reforms to de-risk aviation investment, particularly through improved implementation of the Cape Town Convention and strengthened aircraft leasing frameworks.
According to him, Nigeria has also resolved longstanding concerns over trapped airline funds, with industry reports showing that nearly all previously blocked funds have been cleared, restoring investor confidence and improving liquidity in the sector.
The Minister highlighted ongoing regulatory and institutional reforms, including updates to Nigeria’s aviation regulations and increased investments in maintenance, repair and overhaul (MRO) facilities. He cited new local MRO developments in Lagos and Abuja as part of efforts to reduce dependence on foreign maintenance services, lower operational costs and create skilled jobs.
He further disclosed that government investments in airport modernisation, particularly in Lagos, are strengthening Nigeria’s position as a major aviation hub, noting that the country recorded more than two million international passenger departures and expanded connectivity to dozens of global destinations in recent years.
Addressing global financiers, aircraft lessors, original equipment manufacturers (OEMs) and institutional investors, the Minister delivered a strong message that Nigeria is now positioned as a reliable aviation investment destination.
He emphasised that Nigeria has strengthened compliance systems, improved creditor assurance mechanisms and made measurable progress in revenue repatriation, while also investing in digital reforms and cargo modernisation.
Keyamo stressed that the government is now seeking strategic partnerships that will unlock affordable aircraft financing, support fleet renewal and expansion, and strengthen local maintenance, training and technical capabilities.
He added that Nigeria aims to evolve from being merely an aviation market to becoming a continental aviation growth platform, leveraging its population size, geographic advantage and growing economy.
The summit, he said, marks a critical step toward building a comprehensive aviation financing ecosystem that aligns investors, airlines, regulators and financial institutions to drive sustainable growth in the sector.
He said Nigeria stands at the threshold of a new aviation era, with reforms already laying the foundation for increased capital inflow, stronger institutions and expanded industry capacity across the country.
“Confidence also grows when a market shows seriousness about capability-building. Under this administration, Nigeria has recorded important progress in this direction. Boeing and Cranfield University have provided training support for domestic airlines to strengthen safety culture and operational excellence in Nigeria.
“In addition, the Ministry has supported the ground-breaking of major local MRO investments, including the Air Peace MRO facility in Lagos and the XEJET $10million MRO facility in Abuja. These are done with a clear strategic objectives: reduce foreign maintenance dependence, cut aircraft downtime, retain value in-country and create skilled Nigerian jobs.
” Aircraft acquisition sits at the intersection of these three pillars of capital, confidence and capacity. Without modern and fuel-efficient fleets, Nigerian airlines cannot compete sustainably. Without financing certainty, they cannot scale. Without institutional confidence, global lessors and lenders will remain cautious; without local maintenance capacity, asset productivity suffers. Without skilled people, growth cannot be sustained.
“That is why this Summit is so critical. We are not merely discussing airplanes. We are designing a financing ecosystem. We are convening OEMs, lessors, banks, export-credit institutions, insurers, regulators and operators to move from fragmented conversations to structured transactions; we are aligning market demands with capital solutions.
“To our global financiers, lessors, OEMs, development partners and institutional investors, let me say this with clarity: Nigeria is ready. 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. 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.
“We are building the conditions for fleet modernization, dry-lease scale-up, local MRO development, aviation workforce expansion, and stronger route economics for Nigerian carriers. In essence, we are working to close the gap between Nigeria’s aviation potential and its realised aviation capacity.”, he said.
The Director-General of the Nigeria Civil Aviation Authority (NCAA), Capt. Chris Najomo, stated that Nigeria’s compliance with global aviation standards, including the Cape Town Convention and IDERA frameworks, has strengthened the country’s credibility among aircraft lessors and financiers.
While delivering his welcome address, Najomo cautioned airlines against uncoordinated fleet expansion, urging operators to align aircraft acquisition with route demand, operational capacity, and maintenance capability.
He also underscored the importance of investing in human capital, particularly in pilot training and aviation workforce development, noting that skilled personnel are essential to sustaining industry growth and ensuring that fleet expansion translates into efficient and competitive operations.
Najomo described aircraft acquisition as highly capital-intensive, adding that limited access to sustainable and affordable financing remains a major constraint to fleet modernisation across the aviation sector.
He disclosed that Nigeria has domesticated the Cape Town Convention under the Civil Aviation Act 2022 and formally signed the IDERA agreement in October 2024, steps he said have significantly improved the country’s attractiveness to aircraft financiers and leasing companies.
The NCAA boss assured stakeholders of the Authority’s commitment to a transparent, digitally driven regulatory system that goes beyond the minimum standards set by the International Civil Aviation Organization (ICAO).
He further stressed that strengthening investor confidence remains a key factor in unlocking growth across the aviation industry.
“Aircraft selection must be strategic. When it is not aligned with operational realities, it leads to inefficiencies and increased operational challenges. Confidence drives investment. It shapes the willingness of financiers, lessors, and global partners to engage meaningfully with our market.
“Strong regulation built on transparency, predictability, and strict adherence to international standards provides the confidence investors need. Nigeria is sending a clear message to the global aviation finance community: our market is open, structured, and reform-driven,” he declared.
Also speaking, Director-General of the World Trade Organization, Dr. Ngozi Okonjo-Iweala, highlighted aviation as a powerful driver of economic growth.
Delivering a presentation on the theme, “Aviation as an Enabler for Trade: Strengthening Air Connectivity, Cargo Capacity and Investment Confidence in Emerging Markets,” she emphasised that reliable and affordable air connectivity is essential for transporting high-value, time-sensitive goods and unlocking Nigeria’s potential as a manufacturing and export hub under the African Continental Free Trade Area framework.
In her remarks, Secretary-General of the African Civil Aviation Commission (AFCAC), Adefunke Adeyemi, commended Nigeria’s leadership in the Single African Air Transport Market initiative, which aims to simplify intra-African travel, expand connectivity, and reduce airfares.
She noted that recent milestones, including the launch of 124 new routes and over 113 million passenger journeys, demonstrate aviation’s increasing contribution to economic growth and job creation, while stressing that greater opportunities still exist for expansion.
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