The Nigeria Civil Aviation Authority (NCAA) has projected a rise from 15.89 million air passengers in 2023 to 25.7 million by 2029, with annual revenue expected to reach $2.58 billion.
These projections are said to be based on Infrastructure upgrades, investment in Maintenance, Repair & Overhaul (MRO), international connectivity and global engagement and partnerships.
Speaking during the Nigerian International Air Show currently holding in Abuja, President Bola Ahmed Tinubu, the president of the Federal Republic of Nigeria, said the federal government is investing heavily in modernisation, as six major airports and multiple runways are undergoing upgrades, including a ₦712 billion refurbishment of Lagos Murtala Muhammed Airport.
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President Tinubu, who was represented by George Akume, Secretary to the Government of the Federation (SGF) said Nigeria now ranks No. 1 in Africa for compliance with international aviation standards, improving its Cape Town Convention score from 49.5 percent to 75.5 percent, enabling airlines to access low-cost aircraft financing.
“We have signed agreements with Boeing and Cranfield University to establish state-of-the-art MRO facilities, reducing the $200 million annual capital flight for overseas maintenance. Aero Contractors and XEJet are leading this transformation with new hubs in Lagos and Abuja,” he said.
On international connectivity, he noted that Air Peace resumed Lagos–London flights after five years, and new Bilateral Air Services Agreements have brought Emirates and Uganda Airlines back to Nigeria.
According him, aviation now contributes 2.5 percent to Nigeria’s GDP, supported by 20 airports, 23 domestic airlines, and thousands of skilled professionals.
He said Nigeria’s aviation journey has been from humble beginnings to global ambitions as the country celebrates 100 years of aviation history.
The president said Nigeria is not just hosting its first international airshow, but is actively participating in global platforms.
He recalled that recently, Nigeria showcased its aerospace ambitions at the Dubai Airshow, signaling its readiness to collaborate on defense and next-generation technologies.
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“Our goal is clear: to make Nigeria the aviation hub of West and Central Africa. Through public-private partnerships, investments in training centers, and plans for aircraft component manufacturing, we are building a sustainable ecosystem that creates jobs, drives innovation, and strengthens our economy,” the President said.
Also speaking at the event, Festus Keyamo, minister of aviation and aerospace development said for the first time, Nigeria, the aviation hub of West Africa and the gateway to Africa’s largest economy joins the global community of nations that host world-class airshows—platforms where aviation innovation, investment, technology, policy, and partnerships converge.
Keyamo said under the Renewed Hope Agenda, aviation has emerged as one of the fastest-advancing sectors, with transformative milestones that are reshaping Nigeria’s status as a regional powerhouse.
The minister highlighted some achievements of he sector to include
strengthening of aviation safety and security, attainment and maintenance of world-class safety rankings through rigorous regulatory oversight by the NCAA, upgrade and recertification of major airports to meet international safe standards and deployment of enhanced safety-critical equipment, amongst others.
He said the federal government is embarking on undergoing terminal expansions to improve passenger experience, rehabilitation and strengthening of runways in key airports and introduction of cargo and logistics infrastructure reforms to improve Nigeria’s regional competitiveness.
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“Nigeria has also significantly enhanced its global standing in aircraft financing through the recent, effective implementation of the Cape Town Convention (CTC) and the Aircraft Protocol, leading to a notable increase in Nigeria’s Cape Town Compliance Index score.
“A major milestone in this achievement is the operationalisation of the Irrevocable Deregistration and Export Request Authorisation (IDERA) by the Nigerian Civil Aviation Authority (NCAA), which now ensures swift, transparent deregistration and repossession of aircraft by lessors and financiers in cases of default.
“Additional legal reforms have boosted investor confidence, reduced risk perceptions, and expanded access to aircraft leasing and financing for Nigerian operators,” Keyamo added.
