KEYAMO UNVEILS NIGERIA AIRCRAFT LEASING COMPANY TO EASE AIRLINE FLEET CHALLENGES
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By Aishat Momoh. O.
The Minister of Aviation and Aerospace Development, Festus Keyamo, has unveiled the Nigeria Aircraft Leasing Company as part of efforts to address long-standing aircraft acquisition challenges facing indigenous airlines.
The initiative was announced during a stakeholders’ meeting in Abuja, which brought together airline operators, investors, and regulatory agencies.
Keyamo said the project reflects the Federal Government’s commitment to strengthening local airlines through policies aimed at improving operational efficiency, sustainability, and sectoral growth.
He noted that the resolution of Nigeria’s compliance issues with the Cape Town Convention was a key factor that enabled the establishment of the leasing framework.
According to the minister, the new company will operate as a Special Purpose Vehicle designed to provide airlines with more accessible leasing options, rather than compete with existing aviation operators.
He added that the initiative would be largely private sector-driven, with limited government guarantees to support its operations.
Reacting to the development, the Chief Executive Officer of Ibom Air, George Uriesi, commended the initiative, describing it as a long-overdue reform that could significantly enhance airline operations and capacity in Nigeria’s aviation sector.
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