The Federal Government is set to establish a Nigerian aircraft leasing company to help local airlines overcome the persistent challenges of aircraft acquisition and financing.
Minister of Aviation and Aerospace Development, Festus Keyamo, made this known on Friday during the unveiling of a newly arrived Air Peace dry lease aircraft in Lagos.
According to a statement by his media adviser, Tunde Moshood, the minister said discussions were at an advanced stage with global investors to bring the long-awaited project — part of Nigeria’s 15-year aviation roadmap — to fruition.
“We have put in place a plan to start the Nigerian aircraft leasing company now, and we have secured investors,” Keyamo said. “This has been on the aviation roadmap for the past 15 years. It is not about personal benefit; it is about supporting local airlines. The idea is for Nigeria, as an entity, to negotiate directly with the world.”
He explained that the new company would allow the government to provide sovereign guarantees and negotiate lease terms directly with international partners, thereby reducing the financial burden on domestic carriers.
“Airlines won’t need to struggle individually to find aircraft — the government will provide sovereign guarantees with investors’ support,” he added.
Keyamo noted that the leasing company would operate on a collaborative model, with both the government and private airlines contributing to a shared capital pool. This structure, he said, would help create secure and sustainable financial pathways for fleet expansion, strengthen local operations, and enhance competitiveness in the global aviation market.
The minister reiterated the administration’s commitment to reviving the aviation sector through strategic partnerships, improved infrastructure, and policies that promote the growth of indigenous airlines.