The Federal Government has deepened its strategic engagement with the world’s largest aircraft leasing firm, AerCap, and the African Export–Import Bank (Afreximbank) to address the chronic shortage of modern aircraft in Nigeria.
During the Airline Economics Growth Frontiers Global Conference in Dublin on January 30, 2026, Aviation Minister Festus Keyamo led a high-level delegation to negotiate flexible, long-term leasing structures specifically tailored for Nigerian carriers. The discussions with AerCap CEO Angus Kelly focused on moving away from expensive short-term leases toward “dry leasing” models, which allow local airlines to operate modern, fuel-efficient aircraft with greater financial autonomy.
Simultaneously, the government reinforced its partnership with Afreximbank to leverage the bank’s role in providing structured finance and risk-mitigation tools. Keyamo met with Afreximbank’s Executive Vice President, Kanayo Awani, and the Global Head of Project Finance, Helen Brume, to finalize frameworks that would support the acquisition of new fleets while hedging against currency volatility.
A significant milestone in these talks is Afreximbank’s plan to launch a leasing subsidiary that will take delivery of 25 aircraft specifically for African carriers, providing Nigerian operators with a dedicated channel to access the dry-lease market that was previously closed to them.
These breakthroughs were made possible by Nigeria’s recent rise in global aviation rankings, specifically its 75.5 percent compliance score with the Cape Town Convention. This improved legal standing, which includes the implementation of the IDERA framework for easy aircraft repossession, has removed Nigeria from the global “blocked list” of lessors. The Ministry of
Aviation noted that this proactive “market-facing diplomacy” is essential for reducing the maintenance burden on domestic airlines and ensuring they can compete effectively on international routes like London and New York.
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