Afreximbank has announced plans to support Nigerian airlines through enhanced aircraft financing, marking a significant step forward for the country’s aviation sector. This development emerged during the Aviation Economic Conference in Dublin, where a high-level side meeting was facilitated by Boeing’s Senior Director of Finance, Lereece Rose.
The meeting, led by Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, brought together key stakeholders, including officials from the Nigerian Civil Aviation Authority (NCAA), executives of major Nigerian airlines, and top legislators.
Afreximbank, represented by Helen Brume, Director and Global Head of Project and Asset-Based Finance, pledged its commitment to collaborate with Nigeria on financing solutions. Highlighting its 30-year history of supporting African trade and airlines like Arik Air and Kenya Airways, the bank emphasized the critical need for aviation infrastructure to enhance the competitiveness of African carriers.
To meet these needs, Afreximbank revealed plans to launch a leasing subsidiary that will deliver 25 dry-leased aircraft to African airlines, enabling Nigerian operators to effectively service domestic and Bilateral Air Service Agreement (BASA) routes.
Minister Keyamo commended the progress, including the significant improvement in Nigeria’s Cape Town Convention score from 49.5% to 75.5%, showcasing the government’s commitment to creating a conducive environment for aircraft financing and leasing.
“This collaboration will spur growth, improve service delivery, and enable Nigerian airlines to compete effectively,” said Keyamo.
A follow-up committee has been established to ensure actionable outcomes from these discussions, signaling a transformative future for Nigeria’s aviation sector.
