Nigeria Launches National Aircraft Leasing Company

The Federal Government of Nigeria has approved the establishment of a national aircraft leasing company, as announced by the Minister of Aviation and Aerospace Development, Keyamo. This decision, made during a Federal Executive Council meeting, is described as a major shift for Nigerian carriers, enabling them to acquire financing for aircraft.

The company will operate as a private sector-driven special purpose vehicle backed by the government. Keyamo emphasized that this initiative is a game changer for the aviation industry, addressing long-standing challenges faced by Nigerian airlines in accessing aircraft on competitive terms.

The platform will allow airlines to source aircraft through a centralized system rather than negotiating with individual international lessors. The government will provide support through sovereign guarantees, allowing private investors to drive the project.

The initiative is expected to extend beyond Nigeria, offering leasing opportunities across West Africa and the wider continent. The model aims to attract local and international investors while ensuring asset security.