Berex Team
Air Peace Chairman, Dr. Allen Onyema, has expressed confidence that Nigerian airlines can compete favourably on the global stage if given the right government and financial support.
Speaking at an expert panel session themed “Aviation Financing in Nigeria: The Risks, Opportunities and Prospects”, Onyema said Nigeria’s strategic location, large population, and growing demand for air travel make it well-positioned to become Africa’s aviation hub. However, he warned that without consistent policies, adequate financing, and the will to protect indigenous airlines, the sector will continue to struggle.
The six-man panel, moderated by former Managing Director of the Federal Airports Authority of Nigeria (FAAN), Richard Aisuebeogun, reviewed the numerous challenges facing Nigeria’s aviation industry and proposed practical solutions. They noted that while airlines in other African countries enjoy robust government backing and access to cheaper financing, Nigerian operators are left to battle high operating costs, multiple taxes, and inconsistent regulatory environments.
Onyema stressed that Nigerian carriers have the capacity to match and even outperform many foreign airlines, but they must first survive the hostile operating climate. He pointed to the aggressive competition from well-subsidised foreign airlines, which often undercut fares to weaken Nigerian operators. “No matter how patriotic you are, if the environment keeps stifling you, you won’t last,” Onyema said.
He called on the government to make aviation financing accessible, encourage local aircraft leasing companies, and support airlines in securing cheaper credit facilities. According to him, creating an enabling environment will not only grow the aviation sector but also boost employment and the overall economy.
Other panellists agreed that Nigeria’s size, economy, and central location in West Africa provide a natural advantage for it to dominate regional and intercontinental travel. They compared Nigeria’s situation with countries like Ethiopia, South Africa, and Rwanda, which have positioned themselves as aviation hubs despite having smaller populations and markets.
The experts identified poor access to foreign exchange, high maintenance costs, lack of local Maintenance, Repair and Overhaul (MRO) facilities, and inadequate airport infrastructure as some of the biggest obstacles. They urged the government to prioritise investment in aviation infrastructure and policy stability.
The discussion also touched on opportunities in cargo and logistics, especially with the African Continental Free Trade Area (AfCFTA) opening new trade routes. The panel noted that with the right policies, Nigeria could lead in air cargo services across the continent.
In conclusion, Onyema reiterated that Nigerian airlines do not lack the capacity or ambition, only the enabling environment to succeed. “If we get the right support, Nigeria will not only be the pride of Africa in aviation but will also be a strong player in global aviation,” he said.
