Tinubu Unveils Plan to Launch Aircraft Component Manufacturing in Nigeria

Tinubu Unveils Plan to Launch Aircraft Component Manufacturing in Nigeria
Revenue projection for the aviation sector could reach 2.56 billion dollars by 2029
Nigeria now ranks first in Africa for compliance with international aviation standards

President Bola Ahmed Tinubu says Nigeria is set for a major leap in aviation development with plans underway to begin manufacturing aircraft components locally.

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Eko Hot Blog reports that the President stated that the initiative is part of a wider national effort to position Nigeria as the aviation hub of West and Central Africa.

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Tinubu, represented by the Secretary to the Government of the Federation George Akume at the Nigerian International Airshow, also projected that revenue from the aviation sector could reach 2.56 billion dollars by 2029.

He described the airshow as a landmark event that places Nigeria firmly on the global aviation stage and signals the countrys entry into the group of nations that host world class aviation exhibitions comparable to Farnborough, Paris, and Dubai.

Tinubu noted that the sector has continued to advance steadily, explaining that Nigerias aviation industry has grown from modest origins to a position of global ambition. Passenger traffic rose to 15.89 million in 2023 and is expected to climb to 25.7 million by 2029. Annual industry revenue is also projected to increase to 2.58 billion dollars. To support this growth, the Federal Government is carrying out major infrastructure upgrades including a 712 billion naira refurbishment of the Murtala Muhammed Airport in Lagos along with improvements across six additional airports and several runways.

Tinubu Unveils Plan to Launch Aircraft Component Manufacturing in Nigeria

The President further announced that Nigeria now ranks first in Africa for compliance with international aviation standards after raising its Cape Town Convention score from 49.5 percent to 75.5 percent. This progress allows airlines to access lower cost aircraft financing and boosts investor confidence.

Tinubu revealed that the government has sealed agreements with Boeing and Cranfield University for the establishment of advanced Maintenance Repair and Overhaul facilities. The development is expected to reduce the approximately 200 million dollars spent yearly on foreign aircraft maintenance. He added that Aero Contractors and XEJet are at the forefront of this transformation with new operational hubs in Lagos and Abuja.

In a foreword to the Airshows inaugural magazine, the Minister of Aviation and Aerospace Development Festus Keyamo described the event as both historic and a strong declaration of Nigerias readiness to innovate and compete on the global aviation circuit.