NCAA DG Promises Crash of Airfares as Nigerian Carriers Acquire more Aircraft

• Fidelity, AFG partner on aircraft leasing to boost fleet of local carriers

Chinedu Eze

The Director General of Nigeria Civil Aviation Authority (NCAA), Captain Chris Najomo, has assured that in the next six months Nigerian airlines will acquire modern aircraft and increase their capacity, which will bring down the cost of airfares.

In another development, Fidelity Bank has entered into a strategic partnership with Frankfurt-based Aircraft Finance Germany (AFG) to streamline aircraft leasing and acquisition.

Fielding questions from journalists on Thursday, at the second day of the maiden Nigeria Aircraft Acquisition and Investment Summit (NAAIS) 2026, in Lagos, Najomo said the federal government has made commitment with lessors on the protection of their equipment leased to Nigerian carriers and this agreement has started paying off, as Nigerian carriers will soon receive modern, state-of-the-art aircraft to boost their fleet.

“In the next five, six months, you will see that more aircraft will come in. Better aircraft, modern aircraft will come in. They are coming in already. We expect that more operators will take leverage of this. I can tell you, some four years back, the kind of aircraft that have been into this country is quite different.

“There is going to be fleet acquisition, newer fleets. We have Embraer. We have Boeing. We have Bombardier. We have all sorts. It’s not only the airlines, even the private jet sector is benefitting too.

“A lot is happening, and more will come. I predict in the next six months, in fact, as I’m sitting here, another person has said they want to start the AOC (Air Operator certificate) process. Six months from here, you will see an influx of airplanes.

“Airfares will come down. It is already coming down. Initially, before, we did not have the capacity. Now, we are having the capacity. We are going to explore the routes that have not been explored. Nigerian airlines are now going to go to the West Coast. A lot is happening,” the Director General said.

Meanwhile, Fidelity Bank has entered into strategic partnership with Frankfurt-based Aircraft Finance Germany (AFG) to streamline aircraft leasing and acquisition.

The alliance signed at the Summit yesterday will facilitate easy leasing of aircraft by Nigerian carriers and marks shift from the past when operators were forced to literally cough out huge amount of money for outright purchase of aircraft.

The Executive Director, Fidelity Bank, Stanley Amuchie, who spoke to journalists on the deal, emphasised the collaboration brings together local financial muscle with global technical expertise.

“Aviation is an industry where technical know-how is non-negotiable. By bringing AFG’s sourcing capabilities together with our ability to provide structured finance, we are creating a platform that allows operators to enter the market without the burden of massive upfront capital. You pay lease rentals, you scale your business, and you own the market.”

“We’re already doing a lot in Nigeria today. We’re financing most of the airlines, the big ones in Nigeria. So, we’re just finding another platform to improve on what we’re doing already.  So, the arrangement is for us to bring finance and expertise together.

Because the aviation industry is one industry you have to have the technical know-how to get into. So, we’re bringing the technical know-how from AFG and our ability to finance together,” Amuchie said.