The Federal Government has taken a major step toward addressing the persistent aircraft acquisition challenges confronting indigenous carriers with the official unveiling of the Nigeria Aircraft Leasing Company (NALC), a strategic intervention expected to reshape the nation’s aviation industry.

The unveiling, performed by the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, took place during a high-level stakeholders’ meeting held in Abuja on Tuesday.

The event drew airline operators, aviation investors, regulators and other key industry stakeholders, many of whom described the initiative as a long-awaited breakthrough capable of strengthening the operational capacity of Nigerian airlines.

Speaking during the unveiling, the Minister reaffirmed the commitment of the Federal Government to supporting indigenous carriers through practical reforms and sustainable aviation policies.

According to Keyamo, the administration has remained deliberate in implementing initiatives aimed at repositioning the aviation sector and helping local operators overcome longstanding barriers to growth.

“We are not just making mouth; we have been doing our best for the past three years. We are aware that there are so many Air Operator Certificate holders finding it difficult to take off,” the Minister stated.

He explained that the aircraft leasing initiative had been part of Nigeria’s aviation development roadmap since 2015 but suffered delays due to compliance issues surrounding the Cape Town Convention.

The Minister, however, disclosed that the compliance concerns have now been resolved, paving the way for the operational takeoff of the leasing company.

Clarifying the structure of the initiative, Keyamo stressed that the Nigeria Aircraft Leasing Company would operate strictly as a Special Purpose Vehicle (SPV) established to ease access to aircraft leasing opportunities for local airlines.

“Those who are going to manage this initiative are not competitors to the airlines. It is purely an SPV established to help ease aircraft leasing for Nigerian operators. They are not applying for AOCs,” he said.

The Minister further revealed that the African Development Bank is currently processing a Memorandum of Understanding with Nigeria on the initiative, signaling growing international confidence in the project.

He added that President Bola Ahmed Tinubu has directed four strategic ministries, Aviation and Aerospace Development, Finance, Trade and Industry, and Justice, to collaborate on the framework and operational structure of the company.

Keyamo also emphasized that government guarantees under the arrangement would only apply to aircraft repossession obligations, while maintaining that the project remains fundamentally private sector-driven.

Industry stakeholders at the meeting welcomed the development, describing it as a game changer for Nigeria’s aviation sector.

Chief Executive Officer of Ibom Air, Mr. George Uriesi, commended the Minister for what he described as bold and transformative reforms in the aviation industry.

Uriesi noted that the resolution of Cape Town Convention compliance issues, insurance-related reforms and the unveiling of the leasing company represent three major achievements under the current administration.

“If you’re able to pull this over successfully, Honourable Minister, your administration will remain almost unbeaten in Nigerian aviation,” he stated.

Observers believe the Nigeria Aircraft Leasing Company could significantly improve access to modern aircraft, deepen investor confidence and enhance the competitiveness of Nigerian airlines across Africa and the global aviation market.

Air Peace has strengthened its operational capacity with the arrival of a newly acquired Boeing 737-800 Next Generation aircraft aimed at supporting rising passenger demand across its network.

The aircraft, bearing registration number 5N-CGD, landed in Lagos on May 24 and immediately joined the airline’s expanding fleet as part of ongoing modernization and growth plans.

The Boeing 737-800 NG features 189 Economy Class seats and is expected to provide greater scheduling flexibility and improved connectivity on both domestic and regional routes.

According to the airline, the aircraft combines passenger comfort with operational efficiency through advanced technology, modern safety systems and fuel-saving engines.

Aviation analysts described the latest acquisition as another significant step in the continued expansion of Air Peace’s operations across Africa and beyond.

The development is also expected to increase seat capacity on major routes while enhancing schedule reliability for passengers.

The airline said the aircraft’s fuel-efficient performance supports its sustainability objectives by helping reduce operational costs and carbon emissions.

Air Peace currently operates a mixed fleet of Boeing 777s, Boeing 737s, Embraer aircraft, Dornier jets and Airbus helicopters across domestic, regional and international destinations.

Industry observers noted that the continued fleet expansion reflects growing confidence in the Nigerian aviation market and Air Peace’s ambition to position Nigeria as a leading aviation gateway in Africa.

The airline reaffirmed its commitment to maintaining high standards of safety, service delivery and operational excellence while expanding travel opportunities for passengers across the continent.

West and Central Africa’s largest carrier, Air Peace, has successfully launched direct scheduled commercial flights between Lagos and Barbados, opening a new air corridor aimed at strengthening connectivity between Africa and the Caribbean.

The inaugural flight, operated with the airline’s Boeing 777 aircraft on May 24, departed Lagos with over 284 passengers on board, highlighting growing travel demand between both regions.

Among dignitaries on the historic flight were the Chief Commercial Officer of Air Peace, Mr. Nowel Ngala; Barbados High Commissioner to Nigeria, Ghana and Liberia, Juliette Bynoe-Sutherland; renowned Nigerian actress, Temitope Olowoniyan; alongside other airline officials and passengers.

The airline said the direct service was introduced to eliminate long-standing travel difficulties experienced by passengers moving between Africa and the Caribbean, including multiple stopovers, extended transit periods and complicated visa processes associated with connecting through foreign destinations.

Industry stakeholders described the launch as a major breakthrough in regional and international connectivity, noting that the route would provide easier travel access for tourists, business travellers, diaspora communities and participants in cultural exchange programmes.

The Barbados service is also expected to boost tourism, trade, investment and stronger people-to-people relations between West Africa and Caribbean nations.

Aviation analysts say the new route further strengthens Nigeria’s position as a growing aviation hub within Africa while expanding Air Peace’s international route network into underserved markets.

The airline added that the first commercial return flight from Barbados to Lagos was scheduled for May 25, with subsequent operations planned twice monthly as part of efforts to establish a sustainable air bridge between both regions.

The development marks another milestone in Air Peace’s expanding global operations and its strategy of opening new international routes that improve connectivity and deliver practical travel solutions for passengers.