LAGOS — Festus Keyamo, SAN, Minister of Aviation and Aerospace Development, on Saturday unveiled a dry-lease Boeing 737-NG aircraft for Air Peace at the Murtala Muhammed Airport (MMA1) apron in Lagos, marking the first such arrival in Nigeria in recent years.
The event also served as the platform for Keyamo to announce that the Federal Government is finalising arrangements to establish a Nigerian Aircraft Leasing Company (NALC), a long-stalled initiative intended to streamline aircraft acquisition for domestic carriers.
Accompanied by NCAA Director-General Capt. Chris Najomo, FAAN Managing Director Mrs. Olubunmi Kuku, and other sector leaders, Keyamo praised Air Peace for its “patriotic commitment” to expanding Nigeria’s aviation footprint. The statement was issued by his Special Adviser on Media and Communications, Tunde Moshood.
Air Peace Chairman Dr. Allen Onyema lauded President Bola Ahmed Tinubu and Keyamo for prioritising indigenous operators. “The Minister is not looking for personal gain but for Nigerian aviation to lead Africa,” Onyema said. “The Federal Government now guarantees the business of today.”
The aircraft was sourced from AerCap, the world’s largest lessor. Keyamo described the partnership as evidence of restored global confidence in Nigeria’s regulatory framework, citing the implementation of the Irrevocable De-registration and Export Request Authorisation (IDERA) protocol and related court guidelines.
“We went straight to AerCap because we aimed high,” Keyamo told attendees, which included Irish Ambassador H.E. Peter Ryan, Fidelity Bank Managing Director Dr. Nneka Onyeali-Ikpe, AerCap Vice-President Dr. Kenneth Okpara, and Boeing Africa Sales Director Gad Wavomba.
In a significant policy update, the minister revealed that late-night talks the previous day with Finance Minister Wale Edun and investors from Dubai and Dublin had produced a viable roadmap for NALC.
“This has been on the aviation agenda for 15 years,” Keyamo said. “Under the model, government and airlines will co-capitalise the entity. Nigeria will negotiate directly with global lessors, backed by sovereign guarantees and private investment, so individual carriers no longer face isolated financing hurdles.”
The dry-lease arrangement with Air Peace—under which the airline handles crew, maintenance, and insurance—exemplifies the operational flexibility the planned leasing company seeks to institutionalise nationwide.
Industry observers note that easier access to modern fleets could help Nigerian carriers compete with foreign operators on lucrative international routes while curbing capital flight associated with overseas leasing deals.
The unveiling aligns with the Tinubu administration’s Renewed Hope Agenda for aviation, which emphasises legislative reform, infrastructure upgrade, and private-sector confidence to position Nigeria as West Africa’s aviation hub.
