Festus Keyamo, Nigeria’s Minister of Aviation and Aerospace Development, announced that the first aircraft under a dry-lease agreement will arrive in the country on October 6, 2025, more than 20 years after Nigeria was blacklisted from such agreements.

Keyamo said the federal government’s aviation reforms are beginning to pay off, enabling Nigerian airlines to access cheaper aircraft financing through dry leases.

Speaking at the groundbreaking ceremony for Air Peace’s Maintenance Repair Overhaul (MRO) facility at Murtala Muhammed Airport, Lagos, he revealed that he personally provided a guarantee letter for the Nigerian carrier to secure the dry-lease aircraft.

A dry lease allows an airline to operate an aircraft without crew, maintenance, or insurance provided by the lessor. The lessee assumes full responsibility, including staffing, maintenance, insurance, and regulatory compliance under their Air Operator’s Certificate (AOC).

Keyamo emphasized, “We are stepping in for private businesses to grow. We are doing this not just for Air Peace but for other airlines.”

Nigeria’s return to the global aviation stage follows full compliance with the Cape Town Convention on dry-leasing aircraft.

Last year, the country’s rating improved from 70.5 to 75.5 points, leading the Aviation Working Group (AWG), co-chaired by Boeing and Airbus, to remove Nigeria from its watchlist.