Tinubu, Keyamo seek global capital for ‘under-exploited’ aviation sector

By Dickson Omobola & Matilda Ikediobi

President Bola Tinubu yesterday asked  foreign investors to invest in Nigeria’s aviation industry, saying opportunities abound as the sector remained one of the most viable and under-exploited markets in Africa.

Tinubu said with over 220 million people, Nigeria had the largest domestic aviation market on the continent, adding that the country was a strategic geographic location ideal for trans-African and intercontinental linkages.

The President, who was represented by the Secretary to the Government of the Federation, Mr George Akume, spoke at the Federal Airports Authority of Nigeria, FAAN, National Aviation Conference 2025, with the theme, ‘’Elevating the Nigerian Aviation Industry through Investment, Partnership and Global Engagements,’’ in Lagos.

According to him, there  is a massive unmet demand in cargo, maintenance, repair and overhaul, MRO, facility, aircraft leasing, charter services and aviation-linked real estate in the country.

He said: “Nigeria is a vast country that is geographically located as a regional hub for connectivity. This has informed the policy direction, investment in infrastructure, systems, capabilities and human capital development.

“Under President Tinubu’s Renewed Hope Agenda,  significant strides have been achieved over the past two years in the area of infrastructure. They include commissioning of new international terminals in Lagos and Port Harcourt, boosting capacity and service quality.

“Major rehabilitation works in Abuja, Enugu, Kano and other airports to meet global safety and efficiency requirements. Strengthening of regulatory oversight, with enhanced collaboration between the Nigerian Civil Authority, NCAA, International Civil Aviation Organisation, ICAO, International Air Transport Association, IATA, and Nigerian College of Aviation Technology, NCAT, to elevate industry standards.

“Expansion of cargo, hangar and MRO facilities in Lagos and Kano to position Nigeria as West Africa’s logistics and aircraft-maintenance hub.

“Development of frameworks for a national carrier, guided by transparency, sustainability and global best practice. Let me at this point reassure all our partners, potential and foreign investors that there has never been a time than now, to invest.

‘’Opportunities abound because Nigeria’s aviation industry remains one of the most viable and under-exploited markets in Africa for several reasons, including over 220 million people and the largest domestic aviation market on the continent.

“A $1.7 trillion regional market, driven by the African Continental Free Trade Area, AfCFTA, depends heavily on efficient air logistics. There is massive unmet demand in cargo, MRO, leasing, charter services and aviation-linked real estate. These are not abstract possibilities; they are real market opportunities ready for investors.”

Also speaking on the occasion, the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, who represented by the Ministry’s Permanent Secretary, Dr Ibrahim Kana, identified areas investors could partner with FAAN.

“Airport infrastructure modernisation. For instance, leveraging the renewed Hope funding, we are modernising our terminals, rehabilitating runways, expanding aprons, and developing new cargo complexes. Some of these projects could be delivered transparently under PPP frameworks that guarantee viability and investor returns.

“Africa loses billions yearly to offshore maintenance. FAAN is positioned to facilitate a regional Maintenance, Repair, and Overhaul centre in Nigeria that will serve West and Central Africa, reducing costs, retaining capital, and creating high-skill jobs.

“With Nigeria’s significantly improved legal standing for aviation financing, the environment is primed for indigenous leasing firms. This is a direct opportunity to deepen aviation financing and support airline fleet modernization.

“Nigeria’s agricultural and manufacturing potential demands efficient export gateways. Our plan for dedicated cargo and logistics hubs at key FAAN airports will unlock agro-exports, reduce spoilage, and integrate Nigerian producers into global value chains. The narrative of Nigerian aviation has fundamentally changed. We have shifted from problem-spotting to solution-building. The foundation is solid, the opportunities are clear and the enabling environment is strengthened everyday,’’ he said.

Meanwhile, the Managing Director/Chief Executive of FAAN, Mrs Olubunmi Kuku, said though Nigeria had infrastructure gaps, foreign exchange pressures and the imperative for modernisation, it required the investor community to invest in an area such as infrastructure.

She said: “The gap between our current capacity and projected demand is your opportunity in terminal modernisation, cargo facilities, and airport cities. We seek global expertise in management, ground handling, and logistics.

‘’Partner with us to enhance efficiency and share in the profitability of a growing market. We require global engagement in technology from biometrics to sustainable solutions, and invest in the future of African travel with us.”

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