- He explained that the company would function as a Special Purpose Vehicle designed to make aircraft leasing more accessible
- The minister added that the initiative would be largely driven by private sector participation
- He described the aircraft leasing initiative as a long-awaited intervention that could significantly improve airline operations
The Federal Government has introduced the Nigeria Aircraft Leasing Company in a move aimed at easing aircraft acquisition challenges confronting domestic airlines.
Eko Hot Blog reports that the initiative was unveiled by the Minister of Aviation and Aerospace Development, Festus Keyamo, during a stakeholders’ meeting in Abuja attended by airline operators, regulators and potential investors.
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Keyamo said the project aligns with the government’s broader efforts to strengthen indigenous carriers through policies targeted at improving growth and long-term sustainability within the aviation sector.
According to the minister, progress made in resolving issues surrounding Nigeria’s compliance with the Cape Town Convention created the foundation for the establishment of the leasing company.
He explained that the company would function as a Special Purpose Vehicle designed to make aircraft leasing more accessible to local operators rather than compete with existing airlines.
The minister added that the initiative would be largely driven by private sector participation, with only limited government backing and guarantees.
Reacting to the development, the Chief Executive Officer of Ibom Air, George Uriesi, praised the ongoing reforms in the aviation industry under Keyamo’s leadership.
He described the aircraft leasing initiative as a long-awaited intervention that could significantly improve airline operations and capacity in Nigeria
