Expert says Nigerian airlines can’t survive on leasing option

Joint unions of the Nigerian Meteorological Agency (NiMet) have vowed to paralyse aviation activities on Wednesday, July 1, 2026, following the Nigerian Airspace Management Agency’s (NAMA) failure to comply with a ministerial directive on 10 per cent remittance.

The unions under the auspices of NiMet Unions Joint Action Committee (NJAC), in a letter dated June 26, 2026, signed by the Secretaries of AUPCTRE, ANAP and SSASCGOC, Hishaq Ibrahim, Okerafor Romeo and Ogidi John, respectively, accused the management of NAMA of disobeying the directive of the Minister of Aviation and Airspace Development, Festus Keyamo.

According to the unions, the minister had intervened to propose a lasting solution due to NAMA’s persistent failure to remit 10 per cent of en route and over-flying charges to NiMet.

The joint unions, however, regretted that despite the minister’s intervention, which directed NAMA’s management to pay the sum within 48 hours, the management had yet to do so.

The unions claimed that NAMA’s deliberate act had paralysed operational activities at the aerodrome and NiMet staff welfare.

To this end, the unions in their meeting held on June 15, 2026, said it resolved to inform the minister of NAMA’s failure to comply with the directive and that within the period of a week, if nothing was done, Nimet staff would proceed on a nationwide strike to press home their demand.

The notice of strike by NiMet came as Nigerian airlines were advised to change their business model from wet or dry lease to outright aircraft ownership.

Speaking with The Guardian in Lagos over the weekend, the Managing Partner of Aeronexus, Gbenga Onitilo, said that heavy reliance on leased aircraft was negatively affecting their long-term financial sustainability and limiting their ability to attract investment.

Onitilo argued that while the industry continued to grapple with challenges such as high aviation fuel prices, foreign exchange volatility and rising operating costs, the deeper structural problem remained in the continued dependence on aircraft leasing.

According to him, most Nigerian airlines operate in a difficult environment where revenues are earned in naira, while lease obligations are settled in dollars, thereby exposing their operations to severe foreign exchange risks.

The aviation expert further posited that excessive lease liabilities weaken airlines’ balance sheets and make it more difficult to secure financing from banks and investors.

He opined that Nigerian airlines could explore financing options, including export credit agency facilities, manufacturer-backed financing arrangements and consortium-based aircraft acquisitions.