The African Export-Import Bank has promised to support Nigerian airlines by helping them finance and lease aircraft.
This announcement came during a meeting with Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, at the ongoing Dublin Aviation Economic Conference in Ireland.
Tunde Moshood, the minister’s spokesman, described the meeting as a major step forward for Nigeria’s aviation sector. He explained that the meeting, facilitated by Boeing’s Senior Director of Finance, Lereece Rose, brought key players together to explore ways to improve access to aircraft financing for Nigerian airlines.
Helen Brume, Afreximbank’s Director and Global Head of Project and Asset-Based Finance, confirmed that the bank is ready to collaborate with Nigeria on this initiative. Brume highlighted Afreximbank’s experience supporting airlines like Arik Air, Kenya Airways, and TAG over the past 20 years. She also shared plans for the bank to launch a leasing subsidiary that will provide 25 aircraft for African airlines.
“We are committed to strengthening African airlines by improving access to dry-leased aircraft and building a robust aviation infrastructure,” Brume said.
Minister Festus Keyamo praised Afreximbank’s commitment and emphasized Nigeria’s progress in creating an enabling environment for aviation businesses. He noted that the country recently improved its Cape Town Convention score from 49.5% to 75.5%, a sign of better support for aircraft financing and leasing.
Lereece Rose also commended the minister’s leadership, saying, “This progress reflects Nigeria’s dedication to enhancing its aviation industry. It will encourage global partnerships and investment.”
A follow-up committee has been set up to ensure that the plans turn into actionable solutions. The committee includes top aviation officials, lawmakers, and industry leaders, such as the Chairman of the Senate Committee on Aviation, Senator Abdulfatai Buhari, and the Director General of the Nigerian Civil Aviation Authority, Capt. Chris Najomo.
This partnership with Afreximbank is expected to help Nigerian airlines better serve domestic and international routes, including those covered under Bilateral Air Service Agreements.
Afrexim Bank has worked with a Nigerian airline in the past and is confident in its ability to navigate the terrain. “We look forward to collaborating with Nigeria to strengthen its aviation industry,” Brume added.
