After nearly two decades of reliance on wet-leased aircraft, Nigeria is poised to mark a new era in aviation as it takes delivery of a dry-leased aircraft on October 6, 2025.
Minister of Aviation and Aerospace Development, Festus Keyamo, made the announcement during the groundbreaking ceremony for Air Peace’s Maintenance, Repair and Overhaul (MRO) facility at the Murtala Muhammed International Airport, Lagos, on Wednesday.
According to the minister, this development was made possible following Nigeria’s removal from a global blacklist, thanks to the country’s implementation of the Cape Town Convention, which restored confidence in the nation’s aviation ecosystem.
“This is the first time in 20 years we are getting a dry lease. It means trust has returned. Wet leases have placed a heavy burden on consumers, driving up ticket prices and operating costs,” Keyamo said.
“I personally wrote a guarantee for Air Peace to secure this lease. I put my name, my life, and my reputation on the line.”
The highlight of the day was not just the aircraft lease but the groundbreaking of Air Peace’s state-of-the-art MRO facility, a move experts say could be a game-changer for West and Central Africa.
Currently, Nigerian airlines, including Air Peace, spend up to ₦180 billion annually on overseas aircraft maintenance. The new facility, once operational, is expected to cut down capital flight significantly.
“This MRO facility will serve not just Nigeria, but all of West and Central Africa. It’s capable of accommodating wide-bodied aircraft, something currently unavailable in the region,” said Keyamo.
He added that with the partnership of Brazilian aircraft manufacturer Embraer, Air Peace would gain technical support to maintain its fleet locally, boosting the economy and creating skilled jobs.
The minister reiterated the Tinubu administration’s support for indigenous airlines, noting that the government is working to ensure local carriers can compete internationally.
Keyamo revealed that he had personally approved four new international routes for Air Peace, including:
- Italy
- Canada
- Paris
- Istanbul
Despite being Africa’s largest economy, Nigeria’s local airlines currently transport less than 5% of international passengers flying out of the country a figure the minister described as unacceptable.
Keyamo also called on Nigerian commercial banks to return to the aviation sector and begin financing aircraft acquisitions and infrastructure projects, assuring them that the system has been recalibrated and their investments would be protected.
“No sector can grow without bank support. Now is the time to re-engage. Aviation has changed, and banks can now safely finance aircraft and infrastructure with confidence.”
The announcement also follows President Bola Tinubu’s state visit to Brazil, where Memoranda of Understanding (MoUs) were signed, including support for Nigeria’s aviation sector. Air Peace secured backing from Embraer to establish the MRO facility and launch a new Nigeria–Brazil flight route by Q3 2025.
Air Peace Chairman Allen Onyema stated that the project was more than a commercial expansion, it represents Nigeria’s capacity to serve as a regional aviation hub.
“This is about national pride and self-reliance. We are building a facility where not only Nigerian jets will be maintained but others from across Africa. It’s a bold step.”
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