The Federal Government of Nigeria has urged the establishment of indigenous aircraft leasing companies to deepen aviation financing and support airline fleet modernization. Minister of Aviation and Aerospace Development, Festus Keyamo, made the announcement at the 2025 FAAN National Aviation Conference. He emphasized that Nigeria’s large market and strategic location make it an ideal hub for aviation, with a strengthened legal framework that enables local leasing firms to thrive.

Keyamo noted that the government’s investment proposals are designed to attract private-sector participation through transparent public-private partnerships. He highlighted the potential for indigenous leasing firms to access finance easily, supporting airline fleet expansion and modernization. The minister stated that Nigeria’s improved legal standing for aviation financing has created a conducive environment for local leasing firms, presenting a direct opportunity to deepen aviation financing.

The government has also identified other investment opportunities, including the modernization of airport infrastructure through the Renewed Hope funding initiative. Additionally, the development of a regional Maintenance, Repair, and Overhaul (MRO) hub is expected to retain billions of dollars in offshore maintenance, while the creation of dedicated cargo and logistics hubs will facilitate agricultural and manufacturing exports.

The establishment of indigenous aircraft leasing companies is expected to play a significant role in Nigeria’s aviation sector, supporting the growth of local airlines and enhancing the country’s position as a strategic aviation hub. With its large market and improved legal framework, Nigeria is poised to attract private-sector investment and drive development in the aviation industry. The government’s call for the establishment of local leasing firms is a step towards achieving this goal, and it remains to be seen how the industry will respond to this initiative.