Insufficient aircraft causing flight cancellations and high airfares - Keyamo

Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has attributed the frequent flight cancellations and rising ticket prices in the country to a lack of available aircraft. In an interview with BBC Pidgin on Saturday, October 12, Keyamo acknowledged the difficulties faced by both domestic and international travelers, including unexpected flight delays, and assured that these challenges would soon be addressed.

Keyamo shared that the government is taking steps to assist Nigerian airlines by promoting partnerships with foreign aircraft manufacturers. “I spoke with industry stakeholders, and they informed me that the cost of renting planes, known as wet leasing, is very high,” Keyamo explained. “The planes they rent aren't available for purchase in installments because foreign suppliers are hesitant to do business in Nigeria."

He further explained that foreign aircraft suppliers are wary of Nigeria due to concerns about dishonest practices, stating, “They said that when Nigerian operators can’t pay, they can’t recover their planes." To address this issue, Keyamo highlighted that Nigeria has signed the Cape Town Convention (CTC), which protects international aircraft leasing companies, ensuring they can recover their planes in the event of financial or legal issues. “The law guarantees that if there’s a problem, the government will allow them to reclaim their aircraft,” Keyamo said.

Following the signing of the CTC on September 12, Keyamo noted that Nigeria’s aviation rating has improved from 49 percent to 70.5 percent. He expressed optimism that this will increase the availability of aircraft, leading to lower ticket prices.

The federal government’s signing of the Cape Town Convention also facilitates dry leasing, which is expected to lower operating costs and increase the capacity of domestic airlines. As more planes become available, flight cancellations and delays are anticipated to decrease, along with a potential drop in ticket prices for passengers.