PRESIDENT TINUBU BOOSTS LOCAL AIRLINES WITH DRY LEASE Agreement – ALLEN ONYEMA
In a landmark move, President Tinubu has facilitated the signing of a practice direction, enabling Nigerian airlines to adopt dry leasing. This innovative approach will empower local carriers to expand their fleets without the hefty cost of purchasing new aircraft.
According to Dr. Allen Onyema, Chairman and CEO of Air Peace, “The money we use to purchase a brand new aircraft will now be used to finance about 50 airlines on dry lease.” This shift is expected to significantly enhance the capacity of Nigerian airlines, fostering growth and competitiveness in the industry.
The dry lease agreement is a testament to President Tinubu’s commitment to supporting local businesses and promoting economic development. By midwifing this initiative, the President has demonstrated his dedication to empowering Nigerian entrepreneurs and strengthening the nation’s aviation sector.
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