Nigeria has taken another major step towards repositioning its aviation sector for continental leadership following strategic partnerships between the Minister of Aviation and Aerospace Development, Festus Keyamo, and the leadership of the African Development Bank in Brazzaville, Congo.
The high-level talks took place during a dialogue session involving the President and Governors of the AfDB, where Keyamo, in his newly assigned role as African Champion of the Integrated Aviation Transformation Programme (IATP), presented Nigeria’s aviation reform agenda and investment opportunities within the sector.
At the meeting, the minister highlighted the opportunities embedded in the AfDB-backed $7 billion Integrated Aviation Transformation Programme, describing it as a transformative initiative capable of driving economic growth, improving regional connectivity, and accelerating aviation development across Africa.
Keyamo also outlined the aviation component of President Bola Ahmed Tinubu’s Renewed Hope Agenda, noting that Nigeria was positioning itself as a strategic hub for aviation investment on the continent.
Central to his presentation was the newly approved Nigeria Aircraft Leasing Company, which he described as a critical intervention aimed at supporting domestic airlines, improving access to aircraft, and reducing the high costs associated with foreign leasing arrangements.
According to a statement issued by the minister’s Special Adviser on Media and Communications, Tunde Moshood, Keyamo appealed to the AfDB to mobilise capital and institutional backing for the leasing initiative, stressing that the project could serve as a sustainable model for other African countries seeking to strengthen their aviation sectors.
The minister said Nigeria had already implemented a series of reforms to create a stable and globally competitive aviation environment capable of attracting investors and development finance.
Among the reforms highlighted were the domestication of the Cape Town Convention, improvements to the country’s Irrevocable Deregistration and Export Request Authorisation (IDERA) framework, and the restructuring of aviation insurance policies to align with international best practices.
He noted that the reforms had laid a strong foundation for the successful implementation of the aircraft leasing initiative and broader aviation transformation efforts.
The President of the AfDB reportedly commended Nigeria’s presentation and reaffirmed the bank’s commitment to supporting the successful implementation of the Integrated Aviation Transformation Programme across Africa, particularly in Nigeria where several strategic aviation projects are ongoing.
Following the dialogue session, Keyamo formally unveiled the Country Compact for Nigeria’s aviation sector, outlining key areas of collaboration and investment priorities under the AfDB programme.
The event also featured the signing of a Letter of Intent between the AfDB and the Federal Republic of Nigeria, signalling both parties’ commitment to work together towards the implementation and operationalisation of the aviation transformation initiative.
The agreement is expected to unlock increased investment in aviation infrastructure, aircraft financing, human capacity development, and regional air connectivity, while strengthening Nigeria’s ambition to emerge as a leading aviation hub in Africa.
Industry stakeholders believe the partnership could significantly improve access to financing for local airlines, modernise aviation operations, and stimulate broader economic growth through enhanced air transport services across the continent.
