President Bola Tinubu has projected strong growth in Nigeria’s aviation sector, stating that passenger numbers could rise from 15.89 million in 2023 to 25.7 million by 2029, while yearly revenue is expected to hit $2.58 billion. He made this forecast on Tuesday at the Nigerian International Airshow, where the Secretary to the Government of the Federation, George Akume, represented him.
Tinubu said major investments are ongoing to modernise the nation’s airports. Six major airports and multiple runways are undergoing upgrades, including a N712 billion refurbishment of Murtala Muhammed Airport in Lagos. He also revealed that Nigeria plans to begin manufacturing aircraft components locally as part of a wider push to position the country as the aviation hub for West and Central Africa. Speaking at the event, he described the Airshow as “a historic event that places Nigeria firmly on the global aviation map.”
The President highlighted the sector’s positive trajectory, noting that Nigeria now ranks first in Africa for compliance with international aviation standards. He said this followed an improvement in the nation’s Cape Town Convention score from 49.5 per cent to 75.5 per cent, a development that gives airlines easier access to low-cost aircraft financing and raises investor confidence.
Tinubu further disclosed that the country has secured partnerships with Boeing and Cranfield University to set up advanced Maintenance, Repair and Overhaul facilities. “This is expected to curb the current $200 million annual capital flight spent on overseas aircraft maintenance. Aero Contractors and XEJet are leading this transformation with new hubs in Lagos and Abuja,” he said.
He pointed to gains in international connectivity, such as the resumption of Air Peace’s Lagos-London service, new Bilateral Air Services Agreements and the return of Emirates and Uganda Airlines to Nigeria. He added that aviation now contributes 2.5 per cent to Nigeria’s Gross Domestic Product.
Reaffirming his government’s commitment to making Nigeria the region’s leading aviation centre, Tinubu said the strategy would rely on public-private partnerships, expanded training facilities, airport concessions and local production of aircraft parts. “We are building a sustainable ecosystem that creates jobs, drives innovation and strengthens our economy,” he stated.
In his foreword for the Airshow’s inaugural magazine, Minister of Aviation and Aerospace Development Festus Keyamo described the event as both “historic” and a bold step toward placing Nigeria on the global aviation exhibition calendar. According to him, “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.” He said he believes the Nigeria International Airshow would eventually stand “shoulder to shoulder with Paris, Dubai, Farnborough and Singapore.”
