Boeing Pledges Support for Nigerian Aviation Amid Aircraft and Insurance Challenges
Boeing International Corporation has announced its commitment to assisting Nigerian airlines in overcoming the dual challenges of aircraft shortages and limited insurance coverage. The declaration was made during a high-level meeting in Dublin, Ireland, on Monday, attended by key Nigerian aviation stakeholders.
The discussions marked a significant step forward following Boeing’s October invitation to Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, and other critical players, including financial institutions, members of the Airlines Operators of Nigeria, and global aircraft financiers.
Bridging Gaps in Aircraft Financing and Insurance
Moore Ibekwe, Boeing’s Sales Director for the Africa Region, highlighted the company’s readiness to support Nigerian operators in securing aircraft and accessing premium insurance packages. He noted that the capacity of Nigerian insurers remains insufficient to provide the required coverage, leaving many operators exposed to risks.
“Boosting the capacity of aviation insurance in Nigeria is essential to ensuring stability and safety through the financial soundness of insurance operators in the sector,” Ibekwe stated. He further emphasised that Boeing’s initiatives would help Nigerian airlines mitigate risks and enhance their operational resilience.
Ibekwe also applauded Nigeria’s leading position in the Cape Town Convention compliance index in Africa, asserting that the improved tracking of funds by lessors has boosted investor confidence in the nation’s aviation sector.
Aviation as a Strategic Hub
Addressing the stakeholders, Minister Keyamo outlined Nigeria’s ambitious plans to transform into a West African aviation hub, leveraging its geographic and demographic advantages. Keyamo showcased government efforts to establish world-class maintenance, repair, and overhaul (MRO) facilities, reduce aircraft maintenance costs, and incentivise dry-leasing models.
“We are positioning Nigeria as a strategic aviation hub for West Africa,” Keyamo declared. “Our goal is to achieve this through global-standard infrastructure, cost-effective policies, and robust compliance with international safety and efficiency standards.”
The minister pointed to Nigeria’s impressive score of 75.5 percent on the Cape Town Convention compliance index, the highest in Africa, as a testament to the country’s strides in improving aviation safety and efficiency.
Looking to the Future
Keyamo also announced plans for Nigeria’s inaugural international airshow, set to take place from December 2 to December 4, 2025. “This is a moment of confidence,” he said. “We are ready to invite the world to witness our progress and partnerships.”
The event, designed to showcase Nigeria’s advancements in the aviation sector, is expected to attract global operators, investors, and policymakers, further cementing the country’s position as a rising force in the aviation industry.
As Boeing and the Nigerian government continue to collaborate, the partnership signals a pivotal shift towards addressing longstanding challenges and unlocking the potential of the nation’s aviation sector.
