Nigeria's aviation sector is set for a historic leap as the Minister of Aviation and Aerospace Development, Festus Keyamo, announced that the country will receive its first dry-lease aircraft in nearly two decades on October 6, 2025. The announcement coincided with the groundbreaking of a N32bn Maintenance, Repair, and Overhaul facility by Air Peace at the Murtala Muhammed International Airport, Lagos.
A dry lease refers to an arrangement where only the aircraft is provided by the lessor, while the lessee handles crew, insurance, and maintenance. This differs from the more common wet leases, which include crew and full support.
The development signals a turning point for Nigerian airlines, which will now enjoy greater control and lower operating costs.