Nigeria to Launch National Aircraft Leasing Firm Initiative

The Nigerian Government announced its intention to establish a National Aircraft Leasing Firm during a high-level meeting with airline operators and aviation stakeholders in Abuja. The initiative, disclosed by Minister Keyamo, aims to help Nigerian airlines gain easier access to aircraft, reduce operational challenges, and improve service delivery across the sector.

The proposal involves creating a special purpose vehicle (SPV) to attract investments from private investors and financial institutions both within and outside Africa. The project is part of a broader $7 billion aviation support program, with Nigeria selected as a pilot country.

The leasing company will enable local airlines to lease aircraft in Naira, thereby reducing dependence on foreign exchange and easing financial pressures. This initiative is seen as a major breakthrough for the aviation industry, which has faced high aircraft financing costs and limited access to international leasing opportunities.

The new leasing arrangements are expected to provide airlines with access to aircraft at lower interest rates, enhancing their capacity and fleet expansion opportunities.