The Minister of Aviation and Aerospace Development, Festus Keyamo, says the African Development Bank (AfDB) is preparing to sign a memorandum of understanding with Nigeria on a proposed aircraft leasing initiative.
Keyamo made the announcement at a high-level stakeholders’ meeting in Abuja, where the Nigerian aircraft leasing company was officially unveiled, describing the project as a major step to improve access to modern aircraft for domestic airlines.
He said President Bola Tinubu had directed the Ministries of Aviation, Finance, Trade and Industry, and Justice to work together on the framework and operational structure of the leasing company.
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Keyamo added that the initiative is designed as a private-sector-driven special-purpose vehicle to ease aircraft acquisition challenges, while assuring airline operators that participation would not be compulsory.
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