The Minister of Aviation and Aerospace Development, Festus Keyamo, yesterday flagged off the commencement of the construction of Maintenance, Repair and Overhaul (MRO) facility at the Murtala Muhammed International Airport (MMIA), Lagos.
When completed, Nigerian airlines, the presidential fleet, and the Nigeria Air Force fleet would no more ferry their aircraft to overseas facilities for major checks, which gulps a lot of foreign exchange.
In fact, the facility will save Nigerian domestic carriers about N360 billion worth of foreign exchange annually, as Air Peace alone spends about N180 billion on maintenance in one year.
The facility will create approximately 50,000 jobs and will be situated on a vast 34,000 square meter land at the Lagos airport.
The MRO will also attract airlines from West and Central Africa, other parts of the world to bring their aircraft to be maintained here in Nigeria and thus bring in foreign exchange because such facility is in high demand all over the world.
During the foundation laying ceremony, the Minister described the project as one of the gains of President Bola Tinubu’s visit to Brazil, noting that although the project had been conceived by Air Peace and the process was ongoing, but the President concretised the deal for Embraer to give support to the project hence its take off.
Highlighting the significance of the project and its potential to benefit not just Air Peace but the entire nation, Keyamo said, “Today is a momentous occasion for all of us, not just for Air Peace. The facility that will spring up here is a national treasure that will require our collective support, protection, and dedication to ensure its survival.”
Keyamo emphasised the importance of supporting local airlines and noted that the Ministry has made it a priority to ensure their growth and survival.
“We are resolute in our commitment to supporting local airlines. While some may criticise us, calling me Minister of Local Airlines, I view it as a badge of honour.”
He said foreign airlines airlift 95 per cent of international passengers from Nigeria; local airlines only have five percent of the market, emphasising the need to support domestic airlines.
According to him, the priority of the Tinubu’s administration was to empower Nigerian carriers and expressed hope that in the near future, Nigerian carriers will increase their share of the market, and urged banks to support airlines in their fleet leasing and acquisition.
In an earlier speech, the Chairman and CEO of Air Peace, Dr Allen Onyema, expressed gratitude to Tinubu and Keyamo, for their unwavering support in bringing the project to fruition.
He added: “This marks the first time airlines have received substantial support, and we are grateful for the Minister’s proactive approach in championing the growth of our industry.”
Onyema disclosed that in 2024 alone, the airline spent over N180 billion on aircraft maintenance abroad, encompassing the procurement of spare parts, logistics, and other essential services.
He emphasised that the establishment of a maintenance, repair, and overhaul facility like this would not only reduce the country’s reliance on foreign services but also attract foreign investment, as domestic and international airlines from around the world would be drawn to the facility for maintenance and repair purposes.
He said the project would be supported by Embraer, which would provide technical expertise for the facility, adding that with this development, Nigeria’s aviation industry is poised to receive a significant boost, and the country’s dependence on foreign aircraft maintenance services is expected to decrease substantially.
Also speaking at the ground-breaking ceremony, the Executive Director Large Enterprises at the Bank of Industry (BOI), Dr. Ifeoma Uz’Okpala, expressed delight that BOI had partnered with Air Peace on the project.
She noted that the project would significantly reduce the cost of aircraft maintenance and improve the efficiency of airlines, adding that BOI prioritises such projects that will create jobs for Nigerians.
“We recognise the substantial efforts required to service aircraft in Nigeria and its impact on airlines. This project is a perfect fit for BOI’s mandate. We are thrilled to be supporting Air Peace, and we believe that this project will have a profound impact on the Nigerian people. We are committed to ensuring the successful delivery of this project, and we are excited to partner with Air Peace on this venture.”
