The President of the Aircraft Owners and Pilots Association of Nigeria (AOPAN), Dr. Alex Nwuba, has called on the Federal Government to create affordable funding options for the aviation sector to help local carriers remain competitive on the global stage.
Nwuba made the appeal on Wednesday during the maiden Transport Summit organised by JustAlive Communications Ltd. in Lagos, themed “Nigeria’s Transport Infrastructure Innovation for a Sustainable Future.”
He stressed that while the aviation industry is inherently profitable, high operating costs and unfavourable financial structures continue to stifle growth.
“We must change the narrative that aviation is unprofitable. It is highly profitable, but we need to remove the cost structures that are holding it back,” Nwuba said.
He proposed the creation of a national aircraft leasing company to enable domestic airlines access to affordable aircraft financing, suggesting the government could acquire around 500 airplanes and lease them to local carriers at a low-interest rate of four per cent.
“If an airline fails, there’s no problem; there will always be another ready to take its place,” Nwuba added, highlighting that Nigerian airlines currently borrow at 28–34 per cent interest rates, which drastically reduce profits.
He also revealed that approximately 47 per cent of airlines’ revenues are spent on fuel, further driving up operational costs.
Similarly, Capt. Addo Sanusi, CEO of Aero Contractors, represented by Head of Sales Mr. Femi Oluwafemi, attributed rising airfares to inconsistent government policies.
He stressed that many local airlines urgently require financial support to enhance service quality and expand operations.
On airport facilities, Sanusi noted that “We have made improvements at international airports, but our local airports need much more attention. We must reduce processing times and improve the overall passenger experience.”
He emphasised that tackling challenges in the aviation sector requires collective effort from all stakeholders, not just airline staff.
Also speaking, Mr. Remi Jibodu, COO of Bi-Courtney Aviation Services Ltd., which operates Murtala Muhammed Airport Terminal Two (MMA2), highlighted the terminal’s modern infrastructure and strong security systems, stressing the need for robust security at all airports nationwide.
The summit was chaired by Mr. Fola Tinubu, CEO of Primero Transport Services Ltd., and attended by key stakeholders across Nigeria’s transport sector.
