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…To Set Up Nigerian Aircraft Lease Company
Stella Omona
The Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, has unveiled the newly arrived Air Peace dry lease Boeing 737-NG aircraft at the Murtala Muhammed Airport (MMA1) Apron and Terminal Complex, Lagos.
He also disclosed ongoing Federal Government efforts to establish a Nigerian Aircraft Leasing Company, a major step towards easing aircraft acquisition challenges faced by local airlines.
The remarkable occasion marked the arrival of the first set of dry lease aircraft in Nigeria in recent times — a milestone moment for the nation’s aviation industry.
The Minister, who was the Special Guest of Honour at the event, was in the company of the Director General of NCAA, Capt. Chris Najomo, the Managing Director of FAAN, Mrs Olubunmi Kuku and other aviation stakeholders.
According to a statement by his Special Adviser on Media and Communications, Tunde Moshood,o n Saturday, the minister commended Air Peace for its bold vision and patriotic commitment to the growth of Nigeria’s aviation sector.
Other dignitaries present at the colourful ceremony included the Irish Ambassador to Nigeria, H.E. Peter Ryan; the Managing Director of Fidelity Bank, Dr Nneka Onyeali-Ikpe, and her team; Kevin Ugwuoke; Dr Kenneth Okpara; Vice President of AerCap; Gad Wavomba, Sales Director, African Region, Boeing Commercial Aeroplanes; Moore Ibekwe Jr., among others.
In his remarks, the Chairman of Air Peace, Dr Allen Onyema, expressed profound gratitude to President Bola Ahmed Tinubu, GCFR, and the aviation Minister, Festus Keyamo SAN, for their visionary leadership and unwavering support for indigenous airlines.
“President Tinubu and Festus Keyamo always think of Nigeria first. The Minister is not looking for what’s in it for him but for how Nigerian aviation can become the best in Africa. The Federal Government guarantees the business of today. I can’t thank Mr President enough, and as for the Minister, he is one of the best things to happen to this administration,” Onyema said.
Speaking on the significance of the event, Keyamo described the aircraft arrival as symbolic of a new era of confidence in Nigeria’s aviation sector, reaffirming the Federal Government’s commitment to building trust and institutional capacity that supports airline operations.
“We thought we should start from the top. If you aim at the sky, you get the treetops; but if you aim at the treetops, you never beat the ground. So, we went for the best — we went for AerCap. We were bold enough to start speaking with AerCap, and I want to thank them for trusting and believing in us,” the Minister said.
He added that the government has enacted and implemented key legislative and policy reforms to ensure a safe and business-friendly environment for aircraft leasing and operations.
“We have done the legislation in Nigeria — we have implemented IDERA, passed the law, guided the courts, and put a structure in place to make this work,” he affirmed.
Capping his address, Keyamo gave Nigerians a message of optimism, revealing that talks have advanced with global investors toward establishing a Nigerian Aircraft Leasing Company, a long-awaited goal in the country’s aviation roadmap.
“Just yesterday, I was with the Minister of Finance and Coordinating Minister of Economy, Mr Wale Edun, and a team from Dubai and Dublin till late at night. We have put in place a plan to start the Nigerian Aircraft Leasing Company now, and we have secured investors,” he disclosed.
“This has been on the aviation roadmap for the past 15 years. It’s not about personal benefit; it’s about supporting local airlines. The idea is for Nigeria, as an entity, to negotiate directly with the world. Airlines won’t need to struggle individually to find aircraft — the government will provide sovereign guarantees with investors’ support.”
He further explained that the leasing company will operate on a collaborative model where both government and local airlines contribute to a shared capital pool, enabling smoother access to aircraft under secure financial structures backed by international investors.
The unveiling of the Air Peace dry lease Boeing 737-NG not only celebrates the airline’s continued growth but also signifies renewed investor confidence and policy-driven transformation under the Tinubu administration’s Renewed Hope Agenda for aviation.
