*Deliberately de-risked aviation investment
WorldStage– Nigeria’s Ministry of Aviation and Aerospace Development, with President Bola Tinubu’s support, has deliberately de-risked aviation investment in the country, according to Mr Festus Keyamo (SAN)
Speaking at the maiden Nigerian Aircraft Acquisition and Investigation Summit 2026, on Wednesday in Lagos, he said that Nigeria was ready to receive global financiers, lessors, Original Equipment Manufacturers, development partners and institutional investors.
The summit had the theme: “Unlocking Capital Confidence and Capacity in Nigeria’s Aviation”.
De-risking aviation investment involves using strategic, legal, and financial mechanisms to reduce, transfer, or compensate for the high volatility and risks (fuel prices, obsolescence, legal issues) inherent in aviation, thereby boosting investor confidence and unlocking capital.
Keyamo said that the de-risking was achievable due Nigeria’s strengthening of implementation of the Cape Town Convention and Aircraft Protocol.
According to him, Nigeria has demonstrated progress in revenue repatriation and supported local Maintenance Repairs and Overall (MRO) development to position the aviation sector for competitiveness.
He said the industry had also invested in digital and institutional reforms and pursuing cargo modernisation.
Keyamo said the industry needed partnerships that would unlock affordable aircraft financing, support fleet renewal and expansion, and strengthen maintenance, training and technical capability to help Nigeria to become a platform for aviation growth.
“Nigeria stands today at the threshold of a new aviation era – an era in which capital is more confident, institutions are more credible, and capacity is being deliberately built.
“Let us unlock the full potential of Nigeria’s aviation industry. Let us build an ecosystem that is investable, competitive, sustainable and globally relevant.
“Let this summit be remembered as the moment when vision met structure, reform met capital and Nigeria’s aviation future moved decisively from promise to performance,” he said.
Keyamo said that capital and confidence must translate into tangible capacity such as more aircraft, better connectivity, stronger local operators, more resilient airports, deeper maintenance ecosystems, and a workforce prepared for the future.
He said: “Boeing projects that Africa will require 1,205 new aircraft and over 70,000 additional flight personnel, including 23,000 pilots, 24,000 technicians and 27,000 cabin crew, over the next 20 years.
“For Nigeria, this means 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,” he said.
He said that the opportunity before Nigeria was measurable, adding that globally, air cargo represented less than one per cent of trade volume, but roughly 35 per cent of trade value.
He added that aviation carried a disproportionately high share of the goods that mattered most in value terms: high-value, time-sensitive, export-enabling goods that drive modern economies.
” It means our aviation strategy must extend beyond passenger traffic improvements to deliberate development of cargo hubs, cold-chain systems, smart border processes, and airport ecosystems that can support trade, manufacturing, agribusiness, pharmaceuticals and digital commerce.
“It tells us that aviation is not only about passenger mobility. It is about export competitiveness, pharmaceutical logistics, perishables, e-commerce, high-value manufacturing and time-sensitive trade,” he said.
Keyamo added that there was need to position Lagos, Abuja, Kano, Port Harcourt and other gateways not just as terminals, but also as economic platforms to match the competitiveness.
The Director-General of the Nigeria Civil Aviation Authority (NCAA), Capt. Chris Najomo, said that Nigeria had domesticated the Cape Town Convention in the Civil Aviation Act 2022 in a bid to boost aviation.
He said that the country had also signed the Irrevocable De-registration and Export Request Authorization (IDERA).
Najomo said this had significantly impacted the Nigerian aviation market by enhancing the safety and efficiency of aircraft leasing and financing.
According to him, IDERA now allows Nigerian airlines to secure more aircraft on dry lease.
” NCAA is enforcing IDERA with fidelity; so, aircraft financiers and lessors alike have nothing to worry about when it concerns the resolve of the regulator on this issue.
“On their part, airlines must adopt disciplined and strategic approaches to fleet acquisition.
“Aircraft selection should align with route structures, market demand, and maintenance capability,” Najomo said.
He said that uncoordinated fleet expansion often led to inefficiencies and increased operational challenges.
“At the same time, national capacity must be strengthened through, for example, the development of local MRO facilities.
” Expanding fleet size without corresponding maintenance capability limits the overall benefits of investment and leads to significant capital outflow,” he said.
Najomo identified human capacity as fundamental to sustaining growth.
The Managing Director of the Nigerian Airspace Management Authority, Dr Ahmed Farouk, said that Nigeria represented one of the most significant untapped aviation markets in Africa.
He said that although passenger growth was rising, regional connectivity expanding and demand for fleet renewal real, opportunity alone was not enough.
“You need assurance that the system can support your investment. That assurance is what we are building. We are strengthening oversight. We are improving transparency. We are enforcing compliance.
“Where necessary, we are prepared to take difficult decisions to protect institutional integrity. That includes reviewing arrangements that do not align with national interest or operational efficiency,” he said.
Airline operators and representatives of the Central Bank of Nigeria and Infrastructure Concession Regulatory Commission were at the summit, among other participants.
