Tinubu says plans for aircraft component manufacturing in Nigeria underway

• Nigeria’s annual aviation revenue to hit $2.58 billion by 2029, annual industry revenue expected to rise to $2.58 billion

 

 

President Bola Ahmed Tinubu has said plans are underway to commence aircraft component manufacturing in Nigeria as part of a broader push to position the country as West and Central Africa’s aviation hub.

The President, represented by the Secretary General of the Federation (SGF) George Akume, disclosed this at the Nigerian International Airshow on Tuesday, adding that the event marks Nigeria’s entry into the league of nations hosting world-class aviation showcases such as Farnborough, Paris, and Dubai.

Tinubu described the airshow as “a historic event that places Nigeria firmly on the global aviation map.”

He underscored the sector’s steady advancement, noting that Nigeria’s aviation industry has evolved from “humble beginnings to global ambitions.”

He stated that passenger traffic, which reached 15.89 million in 2023, is projected to hit 25.7 million by 2029, with annual industry revenue expected to rise to $2.58 billion.

According to him, the Federal Government is aggressively upgrading infrastructure, including a ₦712 billion refurbishment of the Murtala Muhammed Airport in Lagos and ongoing improvements across six major airports and several runways.

He noted that Nigeria now ranks first in Africa for compliance with international aviation standards, having improved its Cape Town Convention score from 49.5 per cent to 75.5 per cent, adding “This achievement allows airlines to access low-cost aircraft financing and boosts investor confidence.”

The President also declared that Nigeria had sealed agreements with Boeing and Cranfield University for the establishment of sophisticated Maintenance, Repair and Overhaul (MRO) facilities.

The development, he said, is expected to curb the $200 million annual capital flight currently spent on overseas maintenance, adding “Aero Contractors and XEJet are leading this transformation with new hubs in Lagos and Abuja.”

Tinubu cited recent gains in international connectivity, including the resumption of Air Peace’s Lagos–London service, the signing of new Bilateral Air Services Agreements, and the return of Emirates and Uganda Airlines to the Nigerian market. Aviation, he noted, now contributes 2.5 per cent to Nigeria’s GDP.

He reiterated that Nigeria aims to become the regional aviation hub, driven by public-private partnerships, expanded training centres, and emerging plans for local aircraft component production.

“We are building a sustainable ecosystem that creates jobs, drives innovation, and strengthens our economy,” he added.

In his foreword for the Airshow’s inaugural magazine, Minister of Aviation and Aerospace Development, Festus Keyamo, described the event as “historic” and a bold step toward placing Nigeria on the global aviation exhibition circuit.

“This is our first attempt. It will not be perfect. We are taking baby steps, but we take them with courage, conviction and clarity of purpose,” Keyamo said.

The minister added that the Nigeria International Airshow would, in time, stand “shoulder to shoulder with Paris, Dubai, Farnborough, and Singapore.”

He cited recent achievements in the aviation sector to include, improvements in safety and security, airport modernisation, enhanced aircraft leasing frameworks, and ongoing airspace digitalisation.

Keyamo underscored Nigeria’s strengthened implementation of the Cape Town Convention, the upgrade of surveillance and navigation systems, and expanded training programmes for aviation professionals.

He also reiterated government plans to deepen private-sector participation through concessions and public-private partnerships in maintenance facilities, cargo terminals, and aviation city projects.

According to the minister “This Airshow is more than an event; it is a statement of intent. It is a bold declaration that Nigeria is ready to lead, innovate, and compete on the global stage.”