ABUJA, Nigeria – President Bola Tinubu has approved the establishment of the Nigeria Aircraft Leasing Company, a move aimed at strengthening the country’s aviation sector and easing aircraft access for local airlines.
Announcing the decision on Saturday after a Federal Executive Council meeting, Minister of Aviation Festus Keyamo said the new entity will operate as a privately funded Special Purpose Vehicle with strategic government backing.
The company will serve as a central leasing platform, allowing Nigerian airlines to access aircraft through a credible, sovereign-backed structure, reducing dependence on foreign lessors.
According to Keyamo, the government’s role will focus on providing sovereign guarantees to international partners, ensuring asset security and lowering investment risks.
The initiative also positions the Ministry of Finance Incorporated as an equity participant, reinforcing state support without direct financial burden.
“This is a strategic intervention aimed at unlocking growth, creating jobs, and ensuring sustainability in our aviation ecosystem,” Keyamo said.
The move is expected to deepen private sector participation, enhance regional connectivity and improve Nigeria’s competitiveness in the global aviation market.
Industry stakeholders say the development could significantly reduce operational costs for local carriers while expanding fleet capacity.
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