KEY POINTS
- Boeing invites Nigeria to airline economics conference for air craft leasing discussions.
- Nigeria’s improved aviation rating was not unconnected with Cape Town compliance.
- Nigerian banks work with Boeing to enhance credit on their leases.
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo has been invited to the Airline Economics Conference in Dublin, Ireland, on Monday, January 12, 2025 to negotiate better aircraft leasing options for Nigerian airlines with Boeing.
Nigeria targets strengthened aircraft leasing by Boeing
The offer was made on the back of a recent Memorandum of Understanding (MoU) with Nigeria and an improved rating of the country’s robust aviation sector signifying stability and regulatory alignment with the Cape Town Convention.
In a letter sent on October 24, Boeing Commercial Sales Director Moore Ibekwe said the Boeing, along with Nigerian banks, had entered into partnerships to create credit enhancement products to facilitate aircraft leases.
The collaboration is a bid to reassure the Nigerian market to international lessors and enable local airlines, as well as access new aircraft options.
Confidence in building international lessors
Nigeria’s improved global rating in aviation will also enable Keyamo to directly interact with leasing company executives, utilizing Boeing’s programme.
The forum, which will comprise key stakeholders including the Ministry of Aviation, Nigerian banks, Nigerian lessors and Boeing, will further buttress opportunities for Nigerian airlines exploring aircraft leases in the coming years, according to Ibekwe.
According to Vanguard, This approach is in consonance with Nigeria’s position to support its aviation sector and improve its aviation skert through viable leasing and finance partnerships.
