Mr. Festus Keyamo, Nigeria’s Minister of Aviation and Aerospace Development, has called on global financiers to invest in the concessions of Murtala Muhammed International Airport in Lagos and Nnamdi Azikiwe International Airport in Abuja. The minister made this appeal during the Airline Economics Growth Frontiers Global event held in Dublin, Ireland, from January 12 to 15.
This event, part of the broader Airline Economics Week, focuses on the latest developments and trends in the global aviation sector, particularly in financing and leasing aviation assets.
Keyamo highlighted that the Nigerian Federal Government has introduced policies aimed at creating a conducive environment for airport concession investments. “We have implemented measures to reduce operational bottlenecks, including revising airport concession agreements to enhance efficiency,” he stated.
The minister emphasized the urgent need to expand the Lagos and Abuja airports to boost capacity and improve the passenger experience. “Enhancing these airports’ capacity is vital for improving overall passenger satisfaction,” he said.
Keyamo also underscored the growth of Nigeria’s aviation sector, attributing it to the government’s commitment to modernizing infrastructure, enhancing safety standards, and fostering economic development. He noted that Nigeria’s Cape Town Convention index had risen from 49 to 75.5, a significant improvement that bolsters the confidence of lessors in leasing aircraft to Nigeria.
“Our policies demonstrate our dedication to supporting economic growth, with aviation playing a central role,” he added.
The minister further explained that the government had established various platforms to unify aviation stakeholders and encourage the participation of local financial institutions. Partnerships have also been formed with airlines, insurance companies, and regional banks to address industry challenges and implement key reforms.
“We have signed a Working Together Agreement and an MoU with Boeing to enhance safety, operational efficiency, talent development, infrastructure, and capacity building, particularly in Maintenance, Repair, and Overhaul (MRO),” Keyamo said.
This appeal is part of Nigeria’s broader strategy to attract international investments and partnerships, ensuring sustainable growth and modernization in its aviation sector.
