Air Peace N32 billion MRO to curb billions in Forex losses – Keyamo

Nigeria’s largest airline, Air Peace, Wednesday commenced the construction of a Maintenance Repair Overhaul (MRO), facility at the Murtala Muhammed International Airport (MMIA) in Lagos.

The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, speaking at the ceremony in Lagos, lamented over the huge sums domestic carriers expend on maintaining their aircraft abroad, however, expressed optimism that the N32 billion maintenance hangar, once completed, would put an end to the practice of taking aircraft out of the country for maintenance.

The minister said: “What this (MRO facility) is going to save in terms of Forex to this country is incredible. Air Peace alone spent N180 billion or thereabouts in one year for maintenance. Monies that should remain within our jurisdiction went out.

“That is unheard of. With this facility, we are going to keep that within Nigeria. Not only that, we are now going to attract people to bring in their money. We are going to attract foreign inflows.”

Chief Executive Officer of Air Peace, Allen Onyema, also speaking at the ceremony, lamented that the airline spent over N180 billion maintaining aircraft abroad in 2024, stressing that would soon change once the facility was completed.

Onyema disclosed that the hangar was being built on 34,000 square metres of land and would be completed in about 15 months.

Onyema said: “We expended over N180 billion on maintenance abroad last year. The amount of capital flights out of this country for aircraft maintenance is alarming. With an MRO like this, Nigeria will start attracting foreign investments because airlines all over the world will bring their planes here to service too. This will be an MRO that can take wide body planes like the Boeing 777. It is going to be the biggest MRO in Africa because it will be able to take one 777 and five other planes at the same time.

“I thank God we have a government that believes in us, a government that believes in supporting indigenous investments and making sure they succeed. This is what is giving us hope to embark on a project that will cost us about N32 billion at the end of the day.

“This MRO will not only maintain Air Peace. Embraer will provide technical support for this MRO. We are going to make sure the MRO is an all-inclusive one. Private jets also will be maintained here. It is massive. This particular MRO will create over 50,000 jobs directly and indirectly.

“A lot of engineers will be trained. Technical staff will be trained. It is not just maintenance of planes, even manufacturing of brakes. There will be a wheel shop. There will be a shop for brakes. There will be shops for different batteries and others.”

On her part, Executive Director, Large Enterprises at Bank of Industry Nigeria, Mrs Ifeoma Uzokpala, said BOI would be supporting the project because it would help in saving forex and creating job opportunities, among others.

Uzokpala said: “When the MRO is ready, Nigerian airlines would not need to fly out for maintenance service. We are also looking at the employment opportunities it would create for Nigerians and its impact on FX saving. When we looked at the amount of FX required for aircraft maintenance, it is a lot. We are proud that we partnered with Air Peace to do this, and we will keep supporting Air Peace.”