The Nigerian government has announced that the newly established aircraft leasing company will permit domestic airlines to make payments in naira, a move aimed at easing foreign exchange pressures and supporting the aviation industry.
Boosting Local Airlines
According to the Minister of Aviation, the leasing company is designed to help Nigerian carriers acquire aircraft without the burden of sourcing foreign currency. This initiative is expected to reduce operational costs and improve fleet modernization.
Key Benefits
- Reduced reliance on foreign exchange for aircraft acquisitions
- Lower leasing costs for domestic airlines
- Enhanced competitiveness of Nigerian aviation sector
The minister emphasized that the company would operate on commercial principles while prioritizing local airlines. The government plans to collaborate with international lessors and financial institutions to ensure the company's sustainability.
Industry stakeholders have welcomed the development, noting that access to affordable aircraft financing has been a major challenge for Nigerian airlines. The leasing company is expected to commence operations within the next few months.
