Nigeria Air Peace CEO: Tinubu’s Dry Lease Agreement Boosts Nigeria’s Aviation Industry

Air Peace CEO Dr. Allen Onyema applauds President Tinubu for revolutionizing Nigeria's aviation sector through a dry lease agreement, allowing local airlines to lease aircraft and build capacity. While industry leaders celebrate this move, public reactions highlight concerns over the affordability of air travel amidst economic challenges.

Dr. Allen Onyema, Chairman and CEO of Air Peace, has praised President Bola Tinubu for revolutionizing Nigeria's aviation industry through the signing of a dry lease agreement. According to Onyema, this move allows local airlines to build capacity by leasing aircraft, reducing the financial burden on operators. Onyema highlighted that the funds required to purchase a single brand-new aircraft could now be used to finance about 50 airlines via dry leases, significantly boosting the industry.

While Onyema's remarks celebrated Tinubu's contribution, public reactions were mixed. Some applauded the government for its support of local businesses, while others criticized the focus on aviation amid rising hunger and economic hardship. Comments on social media reflected these contrasting views, with many noting that air travel remains inaccessible to most Nigerians due to high ticket prices.

The dry lease agreement is seen as a step towards modernizing Nigeria’s aviation sector, but the broader public concern remains the affordability of air travel and the ongoing economic challenges faced by ordinary citizens. Despite the positive developments for the aviation industry, many Nigerians are calling for policies that directly address the pressing issues of inflation and hunger.