Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN

Nigeria is setting its sights on achieving global aviation competitiveness, with renewed government focus on empowering local operators and expanding fleet capacity through international partnerships.

Minister of Aviation and Aerospace Development, Festus Keyamo, said the vision is simple but transformative to make Nigeria not just a terminal point, but a major transit hub in global air transport, driving sustained aviation competitiveness across Africa.

He made this known while addressing AerCap Holdings during the announcement of Air Peace’s latest dry-lease aircraft, which marks a critical step toward improving national aviation competitiveness and industry credibility.

Sales Director, Africa Region, Boeing Commercial Airplanes, Moore Ibekwe Jr.; Vice President, Legal Leasing, AerCap, Kirk Malahy; and Vice President, Leasing, AerCap, Gad Wavomba during the unveiling of the Air Peace dry-lease arrival at the General Aviation Terminal (GAT), Lagos.

Keyamo explained that despite handling over 120 weekly frequencies from foreign airlines, Nigeria has yet to fully exploit its potential as a connecting hub.

“All these aircraft are full, going in and out of different points in Nigeria. We want to transform that capacity, that market, to our own people,” Keyamo said.

The minister emphasized that building this competitive edge requires empowering indigenous entrepreneurs rather than doubting their ability to compete internationally.

“We just want to compete. And for our local operators to compete, we must empower them. It’s a simple vision: transforming the market that others feed on into an opportunity for Nigerians,” he added.

Keyamo noted that 18 months ago, many doubted Nigerian airlines could expand their capacity.

“Everybody thought they could not ramp up their fleet. But today’s event proves that with partnership and discipline, they can,” he said.

He also called for the acquisition of more wide-body aircraft to enable Nigerian carriers to fully utilize bilateral air service agreements (BASAs) with countries across continents, which he said are crucial for sustainable aviation competitiveness.

Keyamo reaffirmed Nigeria’s commitment to global leasing standards, assuring aircraft lessor AerCap Holdings that the government remains dedicated to creating a stable environment for dry-lease investments. This commitment, he added, will drive sustainable partnerships that strengthen the sector’s aviation competitiveness.

He further urged aircraft lessors and financial institutions to tap into Nigeria’s expanding market potential.

“We have bilateral air service agreements with many countries, but we are not fully activating those rights because of capacity limitations. I say this to bankers and lessors: there is a market here, and you will not regret investing in it,” he added.

Sales Director, Africa Region, Boeing Commercial Airplanes, Moore Ibekwe Jr., commended Keyamo for his leadership in advancing Nigeria’s aviation competitiveness. He described the dry-lease success as the result of strong collaboration among Boeing, AerCap, and the Nigerian Civil Aviation Authority (NCAA).

“A lot of people might not know what it took to get here,” Ibekwe said. “The journey started in the Minister’s office. He recognised the importance of building a vibrant aviation industry and was willing to partner with us, the NCAA, and the leasing company to make it happen.”

He called the event a “sentimental milestone,” noting that few believed Nigeria would achieve another dry lease after nearly a decade.

“Three years ago, when I took this job, only two people believed this day could happen. This is not just one aircraft; it’s a gateway to greater opportunities,” he said.

Vice President, Leasing, AerCap, Gad Wavomba, expressed delight at the transaction’s success, highlighting its importance as Nigeria’s first dry-lease deal in almost ten years, a major boost for aviation competitiveness.

“AerCap is extremely proud to have Air Peace as our customer in Nigeria,” Wavomba stated.

He acknowledged the efforts of the NCAA and the Irish Civil Aviation Authority (CAA) in facilitating the 83-Bis Agreement, which allowed the aircraft to operate legally under Nigerian registration.

“Air Peace trusted AerCap, and we trusted them back. We had ups and downs, but we made it through,” he said.

Wavomba thanked AerCap’s global team and reaffirmed the company’s readiness to pursue more partnerships with Nigerian airlines.

“AerCap does a transaction almost every 24 hours worldwide, but this one is special. We hope this marks the beginning of more Boeing aircraft transactions with Nigeria,” he added.

Analysts say the successful dry-lease delivery represents a new chapter in Nigeria’s aviation development, underlining the country’s determination to meet leasing standards and achieve global aviation competitiveness. The achievement will make it easier for Nigerian airlines to access leased aircraft, expand networks, and strengthen regional and international connectivity, all key pillars of long-term aviation competitiveness.