President Bola Ahmed Tinubu has disclosed that the Federal Government is working toward launching aircraft component manufacturing in Nigeria, a move aimed at positioning the country as the aviation hub of West and Central Africa.
Represented by the Secretary to the Government of the Federation, George Akume, at the Nigerian International Airshow on Tuesday, the President said the Nigerian aviation industry is on track to generate an estimated $2.56 billion in revenue by 2029.
Tinubu described the airshow as a landmark event that firmly places Nigeria on the global aviation stage, aligning it with other major international showcases such as Farnborough, Paris, and Dubai. He noted that the sector has progressed significantly, transforming from “humble beginnings to global ambitions.”
According to him, passenger traffic rose to 15.89 million in 2023 and is projected to reach 25.7 million by 2029. Annual industry revenue is also expected to climb to $2.58 billion within the same period.
The President added that the Federal Government is intensifying efforts to modernize aviation infrastructure nationwide. This includes the ₦712 billion refurbishment of the Murtala Muhammed Airport in Lagos, as well as ongoing upgrades across six major airports and multiple runways.
