The Minister of Aviation and Aerospace Development, Festus Keyamo, has unveiled the Nigeria Aircraft Leasing Company as part of efforts to ease aircraft acquisition challenges facing domestic airlines.
The initiative was announced during a stakeholders’ meeting in Abuja attended by airline operators, investors, and aviation regulators.
Keyamo said the project reflects the Federal Government’s commitment to strengthening indigenous airlines through policies aimed at improving growth, sustainability, and operational efficiency.
He noted that the resolution of Nigeria’s Cape Town Convention compliance issues was a key milestone that enabled the establishment of the leasing company.
The minister explained that the company will operate as a Special Purpose Vehicle (SPV) designed to provide airlines with easier access to aircraft leasing, rather than compete with existing lessors.
He added that the initiative will be largely private sector-driven, with only limited government guarantees to support its operations.
Reacting to the development, the Chief Executive Officer of Ibom Air, George Uriesi, commended the minister for ongoing aviation reforms, describing the leasing initiative as a long-overdue intervention that could significantly boost airline operations in Nigeria.
