Afreximbank has pledged its support for aircraft financing for Nigerian airlines after a successful meeting at the Aviation Economic Conference in Dublin, Ireland.
The Special Adviser on Media and Communications to the Minister of Aviation and Aerospace Development, Festus Keyamo, Tunde Moshood, who disclosed this in a statement on Wednesday in Abuja, said the significant milestone in Nigeria’s aviation sector was achieved during a side meeting held with the Afreximbank team at the ongoing Aviation Economic Conference in Dublin, Republic of Ireland.
The meeting, which was facilitated by Boeing’s Senior Director of Finance, Lereece Rose, brought together key stakeholders to discuss aircraft financing opportunities for Nigerian airlines and was attended by Keyamo who led the Nigerian delegation that included the Chairman, Senate Committee on Aviation, Senator Abdulfatai Buhari; Chairman, House Committee on Aviation, Hon. Abdullahi Idris Garba, Chairman, Senate Committee on Banking, Insurance, and Other Financial Institutions, Senator Abiru Adetokunbo; Director General of the NCAA, Captain Chris Najomo; Managing Director of Fidelity Bank, Dr. Nneka Onyeali-Ikpe; COO of Air Peace, Toyin Olajide; CEO of XEJet, Emmanuel Iza; Chairman, ValueJet, Kunle Soname and his Managing Director, Captain Majekodunmi, and Chairman/CEO of Bellagio Air, Dr. Oludare Akande, among other aviation stakeholders.
At the meeting, Afreximbank, led by its Director and Global Head of Project and Asset-Based Finance, Helen Brume, agreed in principle to collaborate with Nigeria on aircraft financing, noting that Afreximbank while highlighting the bank’s extensive experience in supporting airlines such as Arik Air, Kenya Airways, and TAG over the past two decades.
Brume emphasized the need for robust aviation infrastructure to enhance the competitiveness of African airlines and to address this, Afreximbank announced plans to launch a leasing subsidiary, which will soon take delivery of 25 aircraft to be leased to African airlines.
The Honourable Minister, however highlighted the critical need for partnerships that would enhance access to aircraft financing for Nigerian operators, facilitating growth and improved service delivery.
In response, Afreximbank affirmed its readiness to work with the Nigerian government, signaling a promising future for the country’s aviation industry.
A committee has been established to follow up on the discussions, ensuring that the partnership materializes into actionable solutions for Nigerian airlines.
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