The Federal Government has said it is currently discussing with aircraft leasing and manufacturing companies in a move to stimulate local investments in the country’s aviation sector.
The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this information in a statement released on Tuesday evening via X handle.
Keyamo said the significance of aircraft leasing, especially dry leasing, was a key factor in enhancing the operations of local operators in the airline industry.
He mentioned that major airlines worldwide relied on dry leasing, as no airline or government could fully afford to purchase its entire fleet of aircraft.
The minister said that the establishment of Maintenance, Repair, and Overhaul (MRO) facilities would propel the growth and efficiency of Nigeria’s aviation industry.
Keyamo mentioned ongoing efforts to attract investors for these facilities, acknowledging their importance in bolstering the aviation sector.
“We are determined to go far and wide to woo aircraft leasing companies and aircraft manufacturers to come to our aid. There is no shame in doing this now since we lack the capacity to produce our own aircraft or to purchase them,” said Keyamo.
Further, minister Keyamo urged the government to provide an enabling environment that will allow potential foreign investors to thrive.
