Leading aircraft manufacturer Boeing has invited Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, along with key stakeholders in the Nigerian aviation industry, to attend the upcoming Airline Economics Conference in Dublin, Ireland, from January 12 to 15, 2025. The invitation seeks to address the critical aircraft shortage in Nigeria by establishing stronger ties between Nigerian airlines and international aircraft lessors.
This development follows the recent signing of a Memorandum of Understanding between the Nigerian government and Boeing, alongside the Aviation Working Group’s (AWG) increased rating of Nigeria’s aviation industry to 75.5%. The improved rating followed Nigeria’s endorsement of the Cape Town Convention Practice Direction and updated procedures for the Irrevocable Deregistration and Export Request Authorisation (IDERA), enhancing global confidence in the Nigerian aviation sector.
In an October 24 letter, Moore Ibekwe, Boeing’s Commercial Sales Director for Africa, commended Keyamo’s recent efforts to improve Nigerian aviation and increase its international profile. “The positive media attention generated by your leadership presents a unique opportunity,” Ibekwe wrote. “Following your visit to our U.S. facilities, we should capitalize on this momentum in line with our MoU.”
The letter further outlined Boeing’s plans to support Nigerian airlines in securing aircraft leases, stating that Boeing has been collaborating with Nigerian banks and the Africa Trade Investment Development Insurance (ATIDI) to create a credit enhancement product. This financial tool aims to provide additional security for global lessors considering the Nigerian market, thereby fostering an enabling environment for aircraft leasing.
Boeing also proposed targeted meetings between Minister Keyamo and the leaders of prominent aircraft leasing companies at the conference. “Our team is coordinating closely with lessors to finalize these discussions,” noted Ibekwe. “It’s essential that Nigerian airlines attending are prepared to showcase serious business opportunities, keeping the attention of potential partners.” The proposed forum would include representatives from the Ministry of Aviation and Aerospace Development, the Airline Operators of Nigeria (AON), Nigerian banks, and lessors, all working together to pave the way for a robust future for Nigeria’s aviation sector.
This engagement reflects Boeing’s broader commitment to Nigerian aviation, marking a pivotal step toward resolving aircraft shortages and securing sustainable leasing options to fuel the industry’s growth.
