Nigeria Cleared for Global Aircraft Leasing
Nigeria has officially been removed from the global aviation leasing market’s blacklist, opening new opportunities for airline operators to secure aircraft directly from lessors.
The announcement came from Osita Okonkwo, Chief Operating Officer of United Nigeria Airlines, who confirmed that the country now has greater access to leasing agreements.
“The important thing is that Nigeria is no longer on the blacklist. This issue has been resolved,” Okonkwo stated.
With this development, airline operators in Nigeria must now negotiate directly with lessors, meet their conditions, and finalize agreements.
A Shift from High-Risk Status
In the past, Nigeria was considered a high-risk market, making it difficult for airlines to lease aircraft. However, with the recent changes, operators now have a more favorable standing, increasing their chances of securing competitive leasing terms.
“It all depends on risk assessment. Previously, Nigeria was rated very high risk, and leasing options were extremely limited. Now, that has changed, and we hope to see competitive pricing,” Okonkwo added.
Navigating the Leasing Process
According to Tunde Moshood, Special Adviser on Media and Communications at the Ministry of Aviation and Aerospace Development, the leasing process is complex and involves extensive documentation.
“Leasing an aircraft isn’t like purchasing a car—it involves multiple steps and compliance with international regulations,” he explained.
Moshood also noted that Nigeria’s participation in the Boeing Lessors Forum has helped restore confidence among international leasing companies.
“Nigeria’s compliance with key agreements, like the Cape Town Convention and IDERA, has reassured lessors that the country is now a reliable market,” he concluded.
With this improved rating, Nigerian airlines now have greater flexibility and opportunities in global aviation leasing.
