Aviation Minister Festus Keyamo used the Nigerian Aircraft Acquisition and Investment Summit 2026 — NAAIS 2026 — held in Lagos, to make Nigeria's most direct and specific pitch to global aviation financiers, lessors, and original equipment manufacturers, arguing that the Federal Government has taken concrete steps to transform the investment environment for aircraft acquisition and fleet renewal.
The summit brought together government officials, airline executives, international financiers, lessors, and aviation industry investors for what Keyamo described as a pivotal moment in Nigeria's aviation reform journey.
The Cape Town Convention Breakthrough
The centrepiece of Keyamo's investor pitch was Nigeria's strengthened implementation of the Cape Town Convention and Aircraft Protocol — the international treaty that governs creditor rights in aircraft financing and leasing transactions. The Cape Town Convention is the foundation of modern aircraft financing; it provides lessors and lenders with internationally recognised legal remedies when an airline defaults, including the right to repossess aircraft quickly rather than being trapped in lengthy local court proceedings.
The Federal Government moved to address creditor concerns directly through a federal high court practice direction on aircraft leasing issued on 12 September 2024, which establishes clear judicial procedures for aircraft repossession proceedings under the Convention. "This is a serious signal to the market," Keyamo told the summit. "We have strengthened our compliance architecture. We have improved creditor assurance. We have demonstrated progress on revenue repatriation."
The Nigeria Aircraft Leasing Company
A significant announcement at NAAIS 2026 was President Tinubu's approval for the establishment of a Nigerian Aircraft Leasing Company — a government-backed vehicle designed to reduce the cost of aircraft access for Nigerian carriers by providing state-backed guarantees that reduce the risk premium financiers and lessors currently charge. The model has been used in other aviation markets, including Ethiopia, where government backing has been central to Ethiopian Airlines' rapid fleet expansion.
International Routes and New Airports
Keyamo also disclosed that the government was working to allocate more long-haul international routes to Nigerian carriers, with United Nigeria Airlines identified as a priority recipient for routes including New York, Canada, and Dubai. He expressed frustration that over 90 per cent of international passenger traffic from Nigeria continues to be carried by foreign airlines, and committed the administration to changing that balance. The minister also confirmed ongoing collaboration with Abia State Government toward a proposed Abia International Airport.
