Nigeria: 10 Years After, Nigeria Takes Delivery of First Dry Lease Aircraft

8 November 2025
Daily Trust (Abuja)
By Abdullateef Aliyu, Lagos

After over a decade that Nigeria was blacklisted by global aircraft lessors, Nigeria has received the first dry-leased aircraft, a development which represents the country's re-entry into the international aviation leasing market.

Our correspondent reports that a dry lease aircraft is a type of lease where the airline (lessee) provides its own crew, maintenance and insurance which is more cost-effective than wet lease where the lessor provides crew, maintenance, and insurance.

The aircraft, a Boeing 737-700NG with registration number EL-HRN, was delivered to Air Peace and landed at the Murtala Muhammed Airport (MMA), Lagos on Friday.

Weekend Trust reports that the delivery is the first since Nigeria signed the Irrevocable Deregistration and Export Request Authorisation (IDERA) Advisory Circular into law eleven months ago.

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The Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), alongside representatives from Boeing, AerCap (lessor), Fidelity Bank, and the Irish Embassy in Nigeria when on ground during the delivery.

Keyamo described the delivery as "an emotional and historic moment" for Nigeria's aviation sector, noting that for years, international lessors had avoided leasing aircraft to Nigerian operators due to issues of contract enforcement and defaults.

"When this government came into office in 2023, we made it a priority to remove Nigeria from the global blacklist of lessors," Keyamo said, adding, "By signing the IDERA Advisory Circular, we restored confidence in our legal and regulatory systems, allowing operators to once again access dry lease arrangements."

Read the original article on Daily Trust.

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