Capt.Chris Najomo

Aircraft acquisition is capital-intensive, and without access to sustainable and affordable financing, fleet expansion and modernization may remain limited.

These require coordinated solutions, amongst which must involve strengthening the legal and institutional framework for aircraft financing, while investors and financiers develop innovative solutions tailored to our environment.

Capt.Chris Najomo made this known in his speech at THE NIGERIA AIRCRAFT ACQUISITION AND INVESTMENT SUMMIT (NAAIS) 2026, LAGOS 1/04/2026 with the theme“Unlocking Capital, Confidence and Capacity in Nigeria Aviation,” is both timely.

Najomo told the gathering that Confidence drives investment. It influences the willingness of financiers, lessors, and global partners alike to constructively engage with our market.

At the NCAA, we are resolute in abiding by the Cape Town Convention through a firm implementation of the Irrevocable De-registration and Export Request Authorization (IDERA).

In addition, we are enthroning a robust digitally-driven regulatory system with competent manpower that surpasses the minimum requirements of ICAO and secures Nigeria’s respect in the comity of nations.

Strong regulation backed by transparency, predictability, and strict adherence to international standards provides that much needed confidence.
Unlocking capacity speaks to our ability, as a nation, to support and sustain growth. This includes operational capacity, technical capability, human capital development, and the infrastructure required to maintain and operate modern fleets efficiently.

Our modus operandi in NCAA is anchored on the principle of ease-of-doing-business without compromising standards. Therefore, to support investment, we have streamlined certification processes, enhanced transparency, and ensured timely decision-making. Predictability in regulation is a major driver of investor confidence, and we are working to strengthen this consistently.

Nigeria is therefore sending a clear signal to the global aviation finance community:

• That our market is open, structured, and reform-driven

• That our regulator is proactive, data-driven, and internationally aligned

• And that our airlines are ready to engage responsibly and competitively

In line with the Federal Government of Nigeria’s Renewed Hope Agenda, and in a bid to boost aviation sector growth, Nigeria has domesticated the Cape Town Convention in the Civil Aviation Act 2022 and signed the IDERA, which I mentioned earlier, in October 2024.

This has significantly impacted on the Nigerian aviation market by enhancing the safety and efficiency of aircraft leasing and financing

IDERA now allows Nigerian airlines to secure more aircraft on dry lease, crucial for expanding fleets and services.

Make no mistake about it, NCAA is enforcing IDERA with fidelity, so aircraft financiers and lessors alike have nothing to worry about when it concerns the resolve of the regulator on this issue.

On their part, airlines must adopt disciplined and strategic approaches to fleet acquisition. Aircraft selection should align with route structures, market demand, and maintenance capability. Uncoordinated fleet expansion often leads to inefficiencies and increased operational challenges.

At the same time, national capacity must be strengthened through, for example, the development of local Maintenance, Repair and Overhaul (MRO) facilities. Expanding fleet size without corresponding maintenance capability limits the overall benefits of investment and leads to significant capital outflow.

Human capacity is equally important, so investment in training and competence-building in aviators and allied personnel are fundamental to sustaining growth.

In closing, I reaffirm the optimism of the NCAA in workable and realistic outcomes from this summit that will cause the much-sought paradigm shift in aircraft acquisition and aviation investment.