President Bola Ahmed Tinubu has announced that Nigeria is gearing up to begin local manufacturing of aircraft components, a move aimed at positioning the nation as the aviation hub of West and Central Africa.
Speaking at the Nigerian International Airshow on Tuesday through the Secretary to the Government of the Federation (SGF) George Akume, the President revealed that revenue from the aviation sector could soar to $2.56 billion by 2029. He described the Airshow as a landmark event that firmly places Nigeria among countries hosting world class aviation exhibitions such as Farnborough, Paris, and Dubai.
Tinubu highlighted the rapid growth of the aviation industry, noting its evolution “from humble beginnings to global ambitions.” He disclosed that passenger traffic, which stood at 15.89 million in 2023, is projected to reach 25.7 million by 2029, with industry revenue expected to hit $2.58 billion.
The President listed several ongoing government investments, including the ₦712 billion refurbishment of Lagos’ Murtala Muhammed Airport, and upgrades across six major airports and multiple runways. He also announced that Nigeria now ranks first in Africa for compliance with global aviation standards, following a jump in its Cape Town Convention score from 49.5% to 75.5%, a milestone that enhances investor confidence and opens doors to low cost aircraft financing.
As part of efforts to reduce the $200 million spent annually on foreign aircraft maintenance, Tinubu confirmed new agreements with Boeing and Cranfield University for the creation of advanced Maintenance, Repair and Overhaul (MRO) facilities. Companies like Aero Contractors and XEJet are already establishing new hubs in Lagos and Abuja to support this shift.
He also pointed to renewed international connectivity, highlighted by Air Peace’s Lagos London route, new Bilateral Air Services Agreements, and the return of Emirates and Uganda Airlines. The aviation sector now contributes 2.5% to Nigeria’s GDP, he said.
Reaffirming his administration’s vision, Tinubu stated that Nigeria aims to emerge as the region’s dominant aviation hub, driven by expanded training centers, public private partnerships, and imminent local production of aircraft components.
“We are building a sustainable ecosystem that creates jobs, drives innovation, and strengthens our economy,” he said.
In his foreword for the Airshow’s inaugural magazine, Minister of Aviation and Aerospace Development Festus Keyamo described the event as a groundbreaking step toward placing Nigeria on the global aviation exhibition map. He acknowledged that though this first edition may not be perfect, it represents “courage, conviction, and clarity of purpose.”
Keyamo highlighted recent sector achievements, including enhanced safety and security systems, airport modernization, upgraded leasing frameworks, digitalized airspace operations, and expanded training for aviation professionals. He reaffirmed the government’s commitment to deeper private sector participation through concessions and partnerships for cargo terminals, MRO centers, and aviation city projects.
“This Airshow is more than an event; it is a statement of intent,” Keyamo said. “It is a bold declaration that Nigeria is ready to lead, innovate, and compete globally.”
