Mr. Festus Keyamo (SAN), Minister of Aviation and Aerospace Development, has announced that Nigeria will take delivery of its first dry-leased aircraft on October 6, 2025, nearly two decades after the last such lease.
A dry lease involves leasing only the aircraft itself, leaving the airline responsible for all operations, including hiring pilots, maintenance, and insurance. This is different from a wet lease, where the lessor provides the aircraft along with crew, maintenance, and insurance.
The minister highlighted that this milestone comes as Nigeria has regained international confidence in its aviation sector following years of restrictions, allowing airlines to now explore cost-efficient leasing options.
“This development will help reduce operational costs for airlines and support the growth of Nigeria’s aviation industry,” Keyamo stated.
The delivery also coincides with efforts to strengthen local aviation infrastructure, including the ongoing construction of a Maintenance, Repair, and Overhaul (MRO) facility at Murtala Muhammed International Airport, which aims to retain foreign exchange spent on aircraft maintenance abroad.