Nigeria has been removed from the list of countries restricted from participating in the global aviation leasing market. This development was announced by Osita Okonkwo, Chief Operating Officer of United Nigeria Airlines, who highlighted that the country now has greater access to leasing aircraft after being cleared from the blacklist.
Okonkwo emphasized that while the national restrictions have been lifted, individual airline operators will still need to negotiate directly with lessors, fulfill their conditions, and finalize agreements. Previously, Nigeria was considered a high-risk market, making it difficult for airlines to lease aircraft. However, with an improved rating, operators now have better prospects in the global leasing space.
Operational efficiency
Tunde Moshood, Special Adviser on Media and Communications at the Ministry of Aviation and Aerospace Development, explained that Nigeria’s participation in international forums, such as the Boeing Lessors Forum, has helped rebuild confidence in the country’s aviation sector. He also noted that Nigeria’s adherence to agreements like the Cape Town Convention and the IDERA framework has played a significant role in regaining credibility with lessors.
With these improvements, Nigeria’s aviation industry is expected to benefit from easier access to aircraft leasing, potentially enhancing fleet expansion and operational efficiency. However, airline operators must continue to meet the necessary conditions to secure favorable leasing terms.