Boeing, a global leader in aircraft manufacturing, is set to facilitate the leasing of aircraft to Nigerian airlines over the next 24 months, aiming to address the aviation sector’s pressing need for additional capacity.
This development was conveyed in an invitation letter addressed to Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo. The letter, signed by Boeing’s Commercial Sales Director, Moore Ibekwe, was also sent to selected Nigerian financial institutions, members of the Airline Operators of Nigeria (AON), as well as key financiers and lessors of aircraft. The goal of the meeting, according to Ibekwe, is to collaborate on a sustainable solution to Nigeria’s ongoing aircraft shortage.
“We are coordinating with lessors to finalize dates and times for these meetings,” Ibekwe said. “We intend to keep the delegation focused, involving only Nigerian airlines that are seriously considering leasing aircraft within the next two years. It is crucial that we bring prepared airlines to the table to showcase viable business opportunities and capture the interest of lessors.”
This announcement follows Minister Keyamo’s recent visit to Boeing’s headquarters in the United States, where discussions centered on enhancing aircraft leasing options for Nigerian airlines. During the visit, Boeing laid out several requirements, including Nigeria’s adherence to the Cape Town Convention and the Irrevocable Deregistration and Export Request Authorization (IDERA) Advisory Circular. These agreements, which govern the recordation and deregistration of leased aircraft, have been endorsed by both the Nigerian government and the Nigerian Civil Aviation Authority (NCAA).
In expressing appreciation for these efforts, Ibekwe noted, “I commend the Ministry of Aviation and Aerospace Development, under your leadership, for its commitment to improving Nigeria’s aviation industry. Since your visit, we have seen unprecedented positive press coverage, and it is crucial that we capitalize on this momentum. One of the follow-up initiatives is to organize a forum during the Airline Economics event to connect with leasing companies, where you can personally update them on the strides Nigeria is making.”
Boeing also highlighted ongoing efforts with Nigerian and African financial institutions to develop a credit enhancement product specifically for Nigeria. This product is intended to provide an additional security layer to reassure global lessors considering leasing opportunities in the region.
The envisioned forum will bring together representatives from the Ministry of Aviation, the AON, Nigerian banks, international lessors, financiers, and Boeing. Through this collaboration, the forum aims to forge a pathway toward a strengthened and more resilient future for Nigeria’s aviation industry.
