The Minister of Aviation and Aerospace Development, Festus Keyamo, along with CEOs of major Nigerian airlines, has traveled to the United States for a week-long series of discussions aimed at introducing new and used Boeing aircraft into the Nigerian aviation market.
The visit, arranged at the invitation of Boeing, a leading American aerospace company, demonstrates Boeing’s commitment to partnering with Nigerian airline operators.
This information was disclosed in a statement by Obafemi Bajomo, Special Adviser to the Aviation Minister, on Monday.
The statement asserted that this partnership is intended to improve the operational efficiency, safety, and business practices of Nigerian airlines while providing access to Boeing’s technical expertise, training, and opportunities for acquiring new or used aircraft.
“In a significant development for Nigeria’s aviation sector, the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, has arrived in Charleston, South Carolina with CEOs of major Airline companies in Nigeria, marking the beginning of a week-long engagement with Boeing.
“This visit, which is on the invitation of Boeing, will also take him to Seattle, Washington.
“This strategic visit is expected to culminate in the signing of a Memorandum of Understanding (MoU) and a Working Together Agreement (WTA) between Boeing and Nigeria in the next few days, signalling a new era of cooperation aimed at enhancing the operational efficiency, safety, and business practices of Nigerian airline operators.
“The anticipated agreement will offer Nigerian airlines access to Boeing’s technical resources, training in airline operations, and opportunities to introduce new or used Boeing aircraft into the Nigerian market,” the statement read.
As the Aviation Minister’s visit in the USA progresses, Nairametrics will provide further updates, offering more details on the outcomes of the discussions and any agreements reached.
What you should know
- In recent months, Aviation Minister Festus Keyamo has been laying the groundwork to help Nigerian domestic airline operators gain access to aircraft under favourable conditions, similar to practices in other parts of the world.
- A key focus of his efforts is on securing dry lease agreements for Nigerian airlines to acquire planes from international lessors and manufacturers.
- In his earlier efforts, Keyamo identified two significant hurdles: the need for insurance to be sourced internationally before aircraft can be brought into Nigeria on dry-lease terms, and the stipulations set by the Aviation Working Group—co-chaired by Airbus and Boeing—that Nigeria must revise its legal framework to prevent courts from obstructing lessors’ recovery of aircraft.
- The Working Group noted that the use of court injunctions by airlines to prevent lessors from reclaiming aircraft from defaulting airlines contradicts the Cape Town Convention, which Nigeria has signed and ratified.
- These conditions are crucial to seeing Nigeria removed from the blacklist and ensuring that local airlines can effectively participate in global aircraft leasing markets.
