The Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, has opened discussions with the Ministry of Finance Incorporated (MOFI) on new investment opportunities.
This is aimed at transforming Nigeria’s aviation industry into a major driver of economic growth.
Receiving the MOFI delegation, led by its Managing Director, Dr. Armstrong Ume Takang, in Abuja, the minister described the engagement as a crucial step toward bridging the gap between policy formulation and capital mobilisation for infrastructure development in the sector.
As contained in a news statement, Mr. Keyamo expressed confidence in the ability of the partnership to fast-track reform and investment inflows, describing MOFI as the “missing link” in the ministry’s investment strategy.
He affirmed the federal government’s commitment to structured collaboration that aligns with the Renewed Hope Agenda of the Tinubu administration.
The visit, which included representatives of MOFI’s Qatari strategic partner, Power International Holdings, was centered on areas of collaboration across the aviation value chain.
Dr. Takang commended the ministry’s recent adoption of the Cape Town Convention and the Irrevocable Deregistration and Export Request Authorisation (IDERA), calling the policy shift a “masterstroke” that signals Nigeria’s readiness to attract sustainable investment.
According to him, the initiatives are in line with President Bola Ahmed Tinubu’s vision for a trillion-dollar economy anchored on strategic sectors such as aviation.
He noted that MOFI, as a custodian of federal investments, stands ready to support the aviation ministry in unlocking long-term financing needed to modernize the industry.
To advance the engagement, both parties agreed to set up a joint working team to develop detailed feasibility studies and recommend actionable steps for implementation.
Reporting by Nosa Aituamen