Nigeria Cleared from Global Aviation Leasing Blacklist

February 20, 2025

(3 Minutes Read)

Nigeria has been lifted from the blacklist of the global aviation leasing market, allowing individual airlines in the country to negotiate directly with lessors for aircraft leases. Previously viewed as a high-risk market, Nigeria now has better leasing prospects.

Osita Okonkwo, Chief Operating Officer of United Nigeria Airlines, announced this development, emphasizing that Nigeria’s removal from the blacklist enhances access to aircraft leasing. He noted, “The key point is that Nigeria is no longer blacklisted. While past concerns have been resolved, airline operators must now engage directly with lessors to secure aircraft.”

Okonkwo explained that in the past, Nigeria’s high-risk rating made it difficult for airlines to lease planes. However, with the improved rating, operators now have better opportunities. “Before, Nigeria was considered very high risk, leading to minimal business. Now that risk has diminished, we hope for competitive pricing,” he said.

Tunde Moshood, Special Adviser on Media and Communications for the Ministry of Aviation and Aerospace Development, added that the process of acquiring aircraft, especially through dry leasing, is complex and involves various documentation steps. He mentioned that attending the Boeing lessors forum has showcased Nigeria positively to the Western market, highlighting the country’s compliance with international standards such as the Cape Town Convention, which has fostered trust among lessors.