The high Flight price and persistent flight cancellations is as a result of Insufficient aircraft in Nigeria – Aviation Minister Keyamo

Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has linked the country’s rising airfare and frequent flight cancellations to a lack of sufficient aircraft. In an interview with BBC Pidgin on October 12, Keyamo addressed the frustrations faced by both domestic and international travelers, such as unannounced flight delays, but assured that solutions were underway.

Keyamo explained that the government is working to assist Nigerian airlines by promoting collaborations with foreign aircraft manufacturers. He mentioned that one of the major challenges for Nigerian airlines is the high cost of renting planes, particularly under what’s called a wet lease. He noted that many airlines are unable to obtain long-term lease agreements, where they can pay in installments, due to the reluctance of foreign suppliers to lease aircraft to Nigeria. According to Keyamo, these foreign suppliers often view Nigeria as a risky market, citing concerns over recovering their planes if payments aren’t made.

To address these concerns, Keyamo highlighted the government’s recent signing of the Cape Town Convention (CTC), which provides legal protection to international aircraft leasing companies. Under the CTC, foreign companies are assured they can reclaim their planes if any disputes arise, without interference from the Nigerian government. This agreement has significantly improved Nigeria’s aviation rating, moving it from 49 percent to 70.5 percent.

Keyamo expressed optimism that the increase in available aircraft would lead to more affordable ticket prices for passengers. He also noted that with the signing of the CTC on September 12, Nigerian airlines are now in a better position to access planes through dry lease agreements, which are expected to lower operational costs and increase fleet size. As more planes become available, Keyamo expects a reduction in flight cancellations and delays, with an eventual decline in ticket prices for travelers.