By Peter Omopo | September 17, 2025
Nigeria is set to receive its first dry-leased aircraft in nearly two decades, Minister of Aviation and Aerospace Development Festus Keyamo announced on Wednesday.
Speaking at the groundbreaking ceremony of Air Peace’s Maintenance, Repair and Overhaul (MRO) facility at the Murtala Muhammed International Airport, Lagos, Keyamo disclosed that the aircraft will arrive on October 6, 2025, courtesy of Air Peace.
He explained that the development followed Nigeria’s removal from the global blacklist through the implementation of the Cape Town Convention, restoring confidence in the nation’s aviation ecosystem.
“This is the first time we are going to have a dry lease in 20 years. It shows confidence has returned. They are giving you your plane—control it yourself. I even wrote a personal guarantee for Air Peace to secure it. I put my life and reputation on the line,” Keyamo said.
End of wet lease dominance
The minister noted that, for two decades, Nigerian airlines operated mainly on wet leases, where foreign operators supplied both aircraft and crew. He said the system placed heavy financial burdens on consumers through high ticket prices, maintenance costs, and overheads.
“Dry leasing,” on the other hand, allows airlines to operate independently, marking what Keyamo described as a “milestone in aviation self-reliance.”
Air Peace MRO to save billions in forex
Highlighting the importance of the MRO facility under construction, Keyamo said it would curb capital flight by allowing airlines to service their aircraft locally rather than abroad.
“Air Peace alone spends about ₦180 billion annually on maintenance. Imagine what other airlines spend. With this facility, that money stays here. It will also attract foreign inflows because this is the first facility in West and Central Africa that can handle wide-bodied aircraft,” he said.
The project is being developed in partnership with Brazilian aircraft manufacturer Embraer, following President Bola Tinubu’s official visit to Brazil earlier this year.
Support for local operators
Keyamo reiterated that supporting local airlines remained central to his mandate, urging commercial banks to re-engage with the aviation sector by financing aircraft acquisitions.
“No sector can grow without financial institutions. The aviation system has been recalibrated—banks can finance aircraft and be assured of getting their money back,” he said.
He further revealed that he had approved four new international routes for Air Peace: Italy, Canada, Paris, and Istanbul.
Regional aviation hub ambitions
Keyamo lamented that Nigerian carriers currently handle only about 5% of international passenger traffic from Nigeria. He expressed optimism that with the new MRO, dry leasing, and partnerships like Embraer’s, Nigeria could position itself as a regional hub for aviation services.
The minister described the facility as a “game-changer”, with provisions for pilot training and opportunities to cut capital flight while boosting foreign exchange earnings.
Air Peace Chairman Allen Onyema, who had earlier announced plans for the MRO facility, confirmed it is expected to be completed within 12–15 months. He said the project, along with Nigeria-Brazil route approvals, demonstrated the airline’s readiness to expand internationally.
The upcoming dry-lease delivery and the launch of Air Peace’s MRO represent a turning point for Nigeria’s aviation industry, boosting confidence, strengthening local capacity, and reducing reliance on foreign operators.
