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From Sola Ojo, Abuja
President Bola Tinubu projected on Tuesday that Nigeria’s aviation sector would see passenger traffic climb from 15.89 million in 2023 to 25.7 million by 2029, with annual revenue anticipated to reach $2.58 billion.
He made the forecast at the Nigerian International Airshow through the Secretary to the Government of the Federation (SGF), George Akume, who represented him.
According to him, significant investments are underway to modernise airports, with six major airports and multiple runways currently being upgraded, including a N712 billion refurbishment of Lagos’ Murtala Muhammed Airport. Tinubu also disclosed plans to begin aircraft component manufacturing locally, part of a broader strategy to position Nigeria as the aviation hub of West and Central Africa.
He described the Airshow as “a historic event that places Nigeria firmly on the global aviation map.”
Highlighting the sector’s steady progress, Tinubu said Nigeria now ranks first in Africa for compliance with international aviation standards.
This, he said, followed an improvement in its Cape Town Convention score from 49.5 per cent to 75.5 per cent, a development that enables airlines to access low-cost aircraft financing and boosts investor confidence.
He further disclosed that Nigeria has secured partnerships with Boeing and Cranfield University to establish advanced Maintenance, Repair and Overhaul (MRO) facilities.
“This is expected to curb the current $200 million annual capital flight spent on overseas aircraft maintenance.
“Aero Contractors and XEJet are leading this transformation with new hubs in Lagos and Abuja,” he said.
The President also noted recent gains in international connectivity, including the resumption of Air Peace’s Lagos-London flights, fresh Bilateral Air Services Agreements, and the return of Emirates and Uganda Airlines to the Nigerian market.
Aviation, he added, now contributes 2.5 per cent to Nigeria’s GDP.
Reaffirming his administration’s commitment to positioning Nigeria as the region’s premier aviation hub, Tinubu said the strategy would be anchored on public-private partnerships, expanded training centres, airport concessions and plans for local aircraft component production.
“We are building a sustainable ecosystem that creates jobs, drives innovation and strengthens our economy,” he said.
In his foreword for the Airshow’s inaugural magazine, the Minister of Aviation and Aerospace Development, Festus Keyamo, described the event as both “historic” and a bold step toward placing Nigeria on the global aviation exhibition calendar.
According to Keyamo,“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.”
He expressed confidence that the Nigeria International Airshow would, in time, stand “shoulder to shoulder with Paris, Dubai, Farnborough and Singapore.”
