President Bola Ahmed Tinubu has said plans are underway to commence aircraft component manufacturing in Nigeria as part of effort to position the country as West and Central Africa’s aviation hub.

The President, who was represented by the Secretary General of the Federation (SGF) George Akume at the Nigerian International Airshow on Tuesday, also said revenue from the Nigerian aviation sector may hit $2.56 billion by 2029

He described the airshow as “a historic event that places Nigeria firmly on the global aviation map and also signifies the country’s entry into the league of nations hosting world-class aviation showcases such as Farnborough, Paris, and Dubai.

Tinubu highlighted the sector’s steady advancement, noting that Nigeria’s aviation industry has evolved from “humble beginnings to global ambitions.”

He said passenger traffic, which reached 15.89 million in 2023, is projected to hit 25.7 million by 2029, with annual industry revenue expected to rise to $2.58 billion.

He added that the Federal Government is aggressively upgrading infrastructure, including a ₦712 billion refurbishment of the Murtala Muhammed Airport in Lagos and ongoing improvements across six major airports and several runways.

According to him, Nigeria now ranks first in Africa for compliance with international aviation standards, having improved its Cape Town Convention score from 49.5 per cent to 75.5 per cent.

“This achievement allows airlines to access low-cost aircraft financing and boosts investor confidence,” he said.

Tinubu also announced that Nigeria had sealed agreements with Boeing and Cranfield University for the establishment of sophisticated Maintenance, Repair and Overhaul (MRO) facilities.

The development is expected to curb the $200 million annual capital flight currently spent on overseas maintenance.

“Aero Contractors and XEJet are leading this transformation with new hubs in Lagos and Abuja,” he added.

He further cited recent gains in international connectivity, including the resumption of Air Peace’s Lagos–London service, the signing of new Bilateral Air Services Agreements, and the return of Emirates and Uganda Airlines to the Nigerian market. Aviation, he noted, now contributes 2.5 per cent to Nigeria’s GDP.

The President reaffirmed that Nigeria aims to become the regional aviation hub, driven by public-private partnerships, expanded training centres, and emerging plans for local aircraft component production.

“We are building a sustainable ecosystem that creates jobs, drives innovation, and strengthens our economy,” he said.
In his foreword for the Airshow’s inaugural magazine, Minister of Aviation and Aerospace Development, Festus

Keyamo, described the event as “historic” and a bold step toward placing Nigeria on the global aviation exhibition circuit.

“This is our first attempt. It will not be perfect. We are taking baby steps, but we take them with courage, conviction and clarity of purpose,” Keyamo said.

He added that the Nigeria International Airshow would, in time, stand “shoulder to shoulder with Paris, Dubai, Farnborough, and Singapore.”

The minister outlined recent achievements in the aviation sector, citing improvements in safety and security, airport modernisation, enhanced aircraft leasing frameworks, and ongoing airspace digitalisation.

He highlighted Nigeria’s strengthened implementation of the Cape Town Convention, the upgrade of surveillance and navigation systems, and expanded training programmes for aviation professionals.

He also reaffirmed government plans to deepen private-sector participation through concessions and public-private partnerships in maintenance facilities, cargo terminals, and aviation city projects.

“This Airshow is more than an event; it is a statement of intent. It is a bold declaration that Nigeria is ready to lead, innovate, and compete on the global stage,” Keyamo said.