Nigerian Airlines Eye $1 Billion from West/Central Africa

Aviation experts project that Nigerian airlines can generate $1 billion annually by revitalizing the air travel market across West and Central Africa. For about 20 years, this region was lucrative for Nigerian carriers, but competition from Asky Airlines and a decline in Nigerian airlines' presence ceded market share to foreign carriers.

Studies by the International Air Transport Association (IATA) and the African Airlines Association (AFRAA) indicate an economic revival in several West and Central African countries, increasing the demand for air travel. The implementation of the Cape Town Convention practice directions has improved the legal environment for Nigerian carriers, facilitating aircraft acquisition on dry lease.

Central and Western Africa have seen significant growth in air transport demand, with year-on-year capacity growth rates of 15.7% to 16.9%. Nigeria remains the largest aviation market in the region, processing the highest passenger and aviation throughput, supported by major hubs like Murtala Muhammed International Airport in Lagos.