The Federal Government has called for the creation of Nigerian-owned aircraft leasing companies to deepen aviation financing and support fleet upgrades across local airlines. The Minister of Aviation and Aerospace Development, Festus Keyamo, made the call at the 2025 FAAN National Aviation Conference in Lagos. He was represented by the ministry’s Permanent Secretary, Dr Ibrahim Kana.
The minister said Nigeria’s aviation market is large and strategically positioned and that the government’s investment priorities are structured to attract private-sector participation through transparent PPP arrangements. He noted that Nigeria’s improved legal framework for aviation financing has created a stronger business environment for local leasing firms and will help airlines access funding for fleet expansion.
Keyamo said Nigeria is ready for investors because the foundation has been strengthened and the opportunities are clear. He identified areas that can attract investors. They include terminal upgrades, runway rehabilitation, cargo complexes, and the development of a regional MRO centre that will serve West and Central Africa.
The minister said Africa loses billions yearly to offshore aircraft maintenance. He added that a functional MRO hub in Nigeria will reduce costs, retain capital, and create high-skill jobs. He also said the government is working on dedicated cargo and logistics hubs across selected airports to support agricultural and manufacturing exports.
Nigeria recently exited the Aviation Working Group watchlist after scoring 75.5 percent on the Cape Town Convention Compliance Index. Industry players noted that airlines may need up to two years before the improved compliance begins to reflect in financing arrangements.
President Bola Tinubu, represented by the Secretary to the Government of the Federation, Dr George Akume, opened the conference and said aviation remains critical to economic growth, regional connectivity, and job creation. He highlighted recent upgrades at airports in Lagos, Port Harcourt, Abuja, Enugu, and Kano.
FAAN’s Managing Director, Mrs Olubunmi Kuku, outlined ongoing modernisation efforts. She listed terminal upgrades, runway maintenance, digital systems, staff training, and the adoption of ISO-accredited processes to improve service quality and attract investors.
State governments also presented investment plans. Plateau State’s delegation announced a N47.54 billion plan to remodel Yakubu Gowon Airport into a Fresh Cargo Hub with new runways, warehouses, cold storage facilities, and handling equipment. Imo State Governor Hope Uzodimma said upgrades at Sam Mbakwe International Cargo Airport include night landing facilities. He added that the state is seeking a PPP concession to unlock the terminal’s export potential and link it with the Orashi Special Energy Free Trade Zone.
