The Federal Government has approved the creation of a national aircraft leasing company aimed at helping domestic airlines access modern fleets more easily.
Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed the decision after a Federal Executive Council meeting, describing it as a significant shift in how Nigerian airlines acquire and finance aircraft.
In a statement released Friday, he explained that the company would function as a private sector-led Special Purpose Vehicle with government backing.
Keyamo noted that the initiative would address long-standing challenges airlines face in securing aircraft on competitive terms, while positioning Nigeria as a key aviation financing hub in Africa.
He added that the platform would allow airlines to access aircraft through a centralized system instead of negotiating individually with foreign lessors.
According to him, the government will support the venture with sovereign guarantees, while private investors drive operations. Through the Ministry of Finance Incorporated, the government will hold equity and earn returns without direct funding, mainly providing investor confidence and asset security.
The project is also expected to attract both local and international investors and eventually extend leasing services to airlines across West Africa and the broader continent, strengthening Nigeria’s aviation sector and boosting airline capacity.
