Odimmegwa Johnpeter/Abuja
The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, CON, FCIArb (UK), has reaffirmed the Federal Government commitment to transforming the nation’s aviation sector into a globally competitive hub for aircraft acquisition, financing, and investment. This was contained in a statement signed by Chindaya Ahmadu Adamu, Director, Press, and Public Relations.
He disclosed this during his keynote address at the Nigeria Aircraft Acquisition and Investment Summit (NAAIS) held on Wednesday, April 1, 2026, at the Federal Palace Hotel, Lagos.
Speaking on the theme “Unlocking Capital, Confidence and Capacity in Nigeria Aviation,” the Minister emphasized that Nigeria is transitioning from policy intentions to practical, results-driven reforms designed to boost investor confidence and expand operational capacity within the sector.
Keyamo highlighted the Federal Government’s decisive actions to resolve long-standing challenges in aircraft financing, particularly through strengthened implementation of the Cape Town Convention and its Aircraft Protocol. According to him, the issuance of the Federal High Court Practice Direction and the Irrevocable De-Registration and Export Request Authorisation (IDERA) Advisory Circular in 2024 has significantly improved Nigeria’s legal framework for aircraft leasing, reduced investment risks, and enhanced access to dry-lease aircraft for domestic operators.
Keyamo further disclosed that Nigeria has cleared approximately 98% of previously trapped airline funds an achievement acknowledged by the International Air Transport Association (IATA) thereby reinforcing the country’s financial credibility and restoring investor trust. “Capital flows where confidence exists, and confidence grows where institutions are credible and reforms are sustained. Nigeria has worked deliberately to restore that confidence,” he stated.
Keyamo noted that the Federal Government is now advancing beyond policy reforms to the development of practical financing instruments, including lease structures, guarantees, insurance backed frameworks, and strategic partnerships with export credit agencies and development finance institutions. These efforts, he said, are aimed at accelerating fleet modernization and expansion across the industry.
He also underscored ongoing investments in aviation infrastructure and human capital development, including the modernization of key airport facilities, particularly in Lagos, and the establishment of local Maintenance, Repair and Overhaul (MRO) centres by Air Peace in Lagos and XEJET in Abuja. These initiatives, he noted, are critical to reducing foreign dependence and retaining economic value within Nigeria.
Drawing attention to global trends, Keyamo noted projections that indicate robust growth in Africa’s aviation market, propelled by rapid population growth and increasing urbanization. He emphasized that Nigeria, owing to its strategic location and large market size, is well-positioned to harness these emerging opportunities.
In his remarks, the Permanent Secretary of the Ministry, Mahmud Adam Kambari, FCNA, represented by the Director, Air Transport Management, (ATM) Mohammed Ahmed Tijani, reaffirmed the Ministry’s commitment to fostering an enabling environment for investors through policy consistency, regulatory transparency, and ease of doing business.
He outlined key initiatives including improved access to long-term financing, regulatory streamlining, digital transformation of aviation processes, and strengthened Public-Private Partnerships (PPPs) to drive infrastructure development and service delivery in line with global standards.
Kambari also disclosed that the Federal Government is advancing the modernization of air navigation systems through cutting-edge Communication, Navigation and Surveillance/Air Traffic Management (CNS/ATM) technologies to enhance safety, efficiency, and global compliance.
He added that the Ministry is collaborating with the Nigerian Civil Aviation Authority (NCAA) and the National Insurance Commission (NAICOM) to develop an online, real-time aviation insurance verification platform aimed at boosting transparency, ensuring regulatory compliance, and further strengthening investor confidence.
Also speaking, the Director-General of Nigeria Civil Aviation Authority (NCAA), Capt. Chris Najomo, emphasized the Authority’s commitment to robust regulatory oversight and adherence to international standards, particularly through effective implementation of IDERA and other global best practices.
Similarly, the Managing Director/Chief Executive of the Nigerian Airspace Management Agency (NAMA), Engr. Farouk Ahmed Umar, highlighted the critical role of safe, efficient, and technologically advanced air navigation systems in sustaining investment and industry growth. He noted that ongoing modernization of airspace infrastructure and capacity development initiatives are pivotal to the sector’s progress.
Stakeholders in the aviation industry at the Summit collectively agreed that Nigeria’s aviation industry is entering a new phase marked by stronger institutions, enhanced regulatory certainty, and expanding investment opportunities across the value chain, including aircraft acquisition, airport development, cargo logistics, and aviation training.
The Summit is widely regarded as a significant milestone in bridging the gap between Nigeria’s aviation potential and its actual performance, setting a clear path for sustainable growth and global competitiveness.
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