DGCA Capt Najomo
Aviation industry in Nigeria is set for improved growth with a landmark deal between Fidelity Bank and Aircraft Finance, Germany (AFG) on aircraft financing and leasing.
The partnership aims to leverage AFG’s technical expertise and Fidelity’s financial capabilities to support the sector’s development.
Amuchie Stanley, Executive Director, Fidelity Bank, said the deal is a significant step towards transforming the sector.
“We’re bringing the technical know-how of AFG to our ability to finance,” he said, just as the bank has already supported several airlines, including Air Peace and Ibom Air, and is looking to expand its portfolio.
The deal includes both financing and leasing options, allowing operators to access aircraft with flexible payment terms.
This is expected to increase access to aircraft, reduce ticket prices, and create new opportunities for Nigerian airlines to expand regionally.
Christian Hatje, Managing Director, Business Aviation and SVP Commercial, AFG, said the partnership will enable Nigerian airlines to compete with global players.
Captain Chris Najomo, Director General, Nigeria Civil Aviation Authority (NCAA), hailed the deal as a “game changer” for Nigeria’s aviation industry, expecting more airlines to emerge and existing ones to expand their fleets.
“The Minister has put a lot into this, and we’re happy it’s coming into shape,” he said, adding that the authority has issued eight AOCs since he assumed office and is streamlining the certification process.
The partnership is seen as a significant boost to Nigeria’s aviation ambitions, with the government promoting the sector’s growth.
The deal is expected to create jobs, stimulate economic growth, and position Nigeria as a hub for aviation in West Africa.
With new deals being signed, Najomo predicts ticket prices will come down, and aircraft insurance will be affected positively.
Fidelity Bank’s experience in aviation financing and AFG’s expertise in aircraft sourcing and leasing make the partnership a strong one.
As Amuchie said, “The aviation industry is one industry you have to have the technical know-how to get into. So we’re bringing the technical know-how of AFG to our ability to finance.”
And with this deal, Nigeria’s aviation sector is set to take off.
