The Federal Executive Council, FEC, has approved the establishment of a Nigerian aircraft leasing company to ease the cost of acquiring aircraft for local operators.
The Minister of Aviation and Aerospace Development, Festus Keyamo announced the plan in Abuja during a meeting with representatives of Airline Operators of Nigeria.
Keyamo said the African Development Bank has committed a 7 billion dollars package to support its integrated African aviation programme, adding that he has been officially appointed as Ambassador for the programme in Africa by the Bank.
He noted that the move was designed to ensure the survival and stability of airline operators by reducing flight disruptions and airfares.
Keyamo added that it is important to establish an aircraft leasing firm as Nigeria does not own a national airline and the government has to ensure that they support domestic airline operators to make them stable and make their businesses thrive.