Aviation summit to expand aircraft acquisition

Keyamo noted that the summit reflects a deliberate policy shift toward structured engagement with international capital markets and aircraft leasing institutions. The goal, he said, is to improve Nigerian airlines’ access to competitive aircraft financing while positioning the country as a secure and bankable destination for aviation investment.

The minister emphasised that the NAAIS represents a major step toward reshaping Nigeria’s aviation financing landscape.

 “By bringing global investors directly into conversation with regulators and operators, the summit aims to close Nigeria’s aircraft capacity gap and unlock the next phase of aviation-led economic growth.

 “As Africa’s fastest-growing aviation region looks ahead to two decades of expansion, Nigeria stands ready to anchor that growth — with scale, demand, reform momentum, and investment-ready opportunities.

 “Through government-backed concession frameworks and ongoing regulatory reforms under President Bola Ahmed Tinubu’s Renewed Hope Agenda, the Federal Government continues to demonstrate a strong commitment to improving the ease of doing business within the aviation sector.”

According to Keyamo, Nigeria presents one of Africa’s most compelling aviation investment opportunities. With a population exceeding 220 million people and air transport serving as an essential mode of mobility, the country offers a balanced return profile across airline operations and long-term airport infrastructure concessions.

Latching onto statistics, Keyamo said Africa is projected to be the fastest-growing aviation region globally, with passenger traffic expected to grow at approximately six percent annually through 2044. He said, “Within this trajectory, Nigeria stands as a natural anchor market for long-term aviation and airport infrastructure expansion.

 “Despite its demographic and economic scale, Nigeria remains structurally underserved in aviation capacity. The market currently supports approximately 15–16 million annual air passengers, with projections indicating growth to 25.7 million passengers by 2029 — a clear reflection of strong underlying demand.

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 “The country remains a key aviation gateway in West Africa, with direct international air links to over 30 destinations across Africa, Europe, the Middle East, Asia, and North America. This connectivity underpins trade, diaspora engagement, tourism, and business mobility, reinforcing Nigeria’s strategic role as a regional hub.

 “However, despite having Africa’s largest population base — estimated at over 220 million — Nigeria ranks only as the continent’s fifth-largest aviation market by seat capacity.” The country, Keyamo said, currently operates approximately 1.16 million monthly scheduled airline seats.

In contrast, Egypt, with about 120 million people, Keyamo affirmed offers roughly 2.98 million monthly seats; South Africa, with 65.5 million people, operates around 2.60 million seats monthly; while Morocco, with just 39 million people, provides approximately 2.03 million seats monthly.

 “These comparisons highlight a significant capacity shortfall in Nigeria — not demand saturation — presenting substantial headroom for fleet expansion and infrastructure development.

 “Air transport remains structurally essential in Nigeria due to limited nationwide rail alternatives, reinforcing aviation’s role as a critical mobility backbone.

Across the continent, Africa is projected to require over 1,600 new aircraft deliveries between 2025 and 2044, driven by sustained passenger growth and fleet replacement cycles. “Nigeria, as the continent’s largest population market and economic powerhouse, is poised to absorb a significant share of this expansion,” he stated.