Nigeria has secured a collaboration agreement with the African Export–Import Bank (Afreximbank) to enhance aircraft financing for the country’s airlines.
The deal, announced during the Aviation Economic Conference in Dublin, Ireland, includes plans by Afreximbank to launch a leasing subsidiary, which will acquire 25 aircraft for lease to African airlines. This initiative will provide Nigerian carriers with dry-leased aircraft to support domestic operations and Bilateral Air Service Agreement (BASA) routes.
A statement from Tunde Moshood, Media Adviser to the Minister of Aviation and Aerospace Development, Festus Keyamo, revealed that the milestone agreement was reached during a side meeting facilitated by Boeing’s Senior Director of Finance, Lereece Rose.
The Nigerian delegation, led by Minister Keyamo, included key stakeholders such as Senator Abdulfatai Buhari, Chairman of the Senate Committee on Aviation; Abdullahi Idris Garba, Chairman of the House Committee on Aviation; and aviation executives from Air Peace, ValueJet, XEJet, and other industry leaders.
Afreximbank’s Director and Global Head of Project and Asset-Based Finance, Helen Brume, emphasized the bank’s commitment to strengthening aviation infrastructure and noted its track record of supporting African airlines over the past two decades.
During the meeting, Afreximbank reaffirmed its readiness to collaborate with the Nigerian government to create a robust framework for aircraft leasing and financing, bolstered by Nigeria’s recent improvements in its Cape Town Convention score, which rose from 49.5% to 75.5%.
A committee has been established to ensure the partnership translates into actionable outcomes, signaling a positive trajectory for Nigeria’s aviation sector.
Peoplesmind
