Nigeria woos aircraft lessors, financiers as reforms gain momentum

The federal government through the Nigeria Civil Aviation Authority (NCAA) has assured that with the implementation of the Irrevocable De-registration and Export Request Authorization (IDERA) in Nigeria, aircraft financiers and lessors alike have nothing to worry about regarding the resolve of the regulator on this issue.

This was disclosed by Chris Najomo, Director General, Nigerian Civil Aviation Authority (NCAA) on Wednesday at the maiden Nigeria Aircraft Acquisition and Investment Summit (NAAIS) 2026, who stressed that NCAA is enthroning a robust digitally-driven regulatory system with competent manpower that surpasses the minimum requirements of ICAO and secures Nigeria’s respect in the comity of nations.

“Strong regulation backed by transparency, predictability, and strict adherence to international standards provides that much needed confidence.

“Unlocking capacity speaks to our ability, as a nation, to support and sustain growth. This includes operational capacity, technical capability, human capital development, and the infrastructure required to maintain and operate modern fleets efficiently,’ Najomo said.

He stressed that to support investment, NCAA has streamlined certification processes, enhanced transparency, and ensured timely decision-making, adding that predictability in regulation is a major driver of investor confidence, and we are working to strengthen this consistently.

According to Najomo, Nigeria is sending a clear signal to the global aviation finance community that the market is open, structured, and reform-driven and that its regulator is proactive, data-driven, and internationally aligned.

“Our airlines are ready to engage responsibly and competitively.

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“In line with the Federal Government of Nigeria’s Renewed Hope Agenda, and in a bid to boost aviation sector growth, Nigeria has domesticated the Cape Town Convention in the Civil Aviation Act 2022 and signed the IDERA, which I mentioned earlier, in October 2024.

“This has significantly impacted on the Nigerian aviation market by enhancing the safety and efficiency of aircraft leasing and financing. IDERA now allows Nigerian airlines to secure more aircraft on dry lease, crucial for expanding fleets and services,” the DG NCAA said

He called on the airlines to adopt disciplined and strategic approaches to fleet acquisition, adding that aircraft selection should align with route structures, market demand, and maintenance capability.

“Uncoordinated fleet expansion often leads to inefficiencies and increased operational challenges.

“At the same time, national capacity must be strengthened through, for example, the development of local Maintenance, Repair and Overhaul (MRO) facilities. Expanding fleet size without corresponding maintenance capability limits the overall benefits of investment and leads to significant capital outflow,” he said.

He noted that human capacity is equally important, so investment in training and competence-building in aviators and allied personnel are fundamental to sustaining growth.

Festus Keyamo, Aviation and Aerospace Development Minister, called on global investors to seize emerging opportunities in Nigeria’s aviation sector, citing strong reforms and other key drivers of growth in the secor.

Presenting a keynote address at the ongoing Aircraft Acquisition and Investment Summit holding at Federal Palace Hotel, Lagos, he assured prospective investors and partners of a now strong institution where they can confidently invest with assurance on returns on investments.

Keyamo, who disclosed that IATA data shows that Nigeria recorded 2.1 million international passenger departures in 2023, maintains direct links to 38 countries, supports 24 airports with scheduled commercial services, and has seen 17 new international routes added within the last five years, added that these statistics reflect market weight, connectivity relevance, and strategic importance within the African aviation landscape when viewed with the lens of Nigeria’s approximately 240 million population size.

“When you put all these together with the ongoing airport investments at both federal and subnational levels, it demonstrates a broader national effort to deepen connectivity, expand trade-enabling infrastructure, strengthen Nigeria’s gateway role, and send a stronger signal of long-term confidence to operators, financiers and global partners.

“Let me be clear: confidence in Nigeria’s aviation sector is no longer aspirational. It is being institutionalised, through law, through regulatory alignment, through digital reform, through infrastructure renewal, and through visible support for indigenous capacity.

According to him, Boeing’s projection that Africa will require 1,205 new aircraft and over 70,000 additional flight personnel, which includes 23,000 pilots, 24,000 technicians, and 27,000 cabin crew over the next twenty years, means that for Nigeria, aircraft acquisition cannot be discussed in isolation, it must be integrated with local MRO capability, training pipelines, airport efficiency, digital operations, cargo strategy, and aircraft support services.

“That is how we intend to capture full aviation value, rather than merely importing lift capacity.”