Tinubu projects 25.7m passenger traffic by 2029

President Bola Tinubu has said that Nigeria’s  air passenger traffic would rise to 25.7 million by 2029.

He also stated that, according to projections by the Nigerian Civil Aviation Authority (NCAA), the annual revenue of the aviation sector is expected to reach $2.58 billion.

The President stated that plans are underway to commence aircraft component manufacturing in Nigeria as part of a broad initiative to position the country as the aviation hub of West and Central Africa.

The President disclosed this in Abuja on Tuesday at the Nigerian International Air Show where he was represented by the Secretary General of the Federation (SGF), Sen. George Akume.

On some of the milestones and plans for the sector, Tinubu said: “Nigeria handled 15.89 million passengers in 2023, and projections by the NCAA show this will rise to 25.7 million by 2029, with annual revenue expected to reach $2.58 billion.

“The Federal Government is investing heavily in modernisation. Six major airports and multiple runways are undergoing upgrades, including a ₦712 billion refurbishment of Lagos Murtala Muhammed Airport”.

Tinubu also revealed that Nigeria has signed agreements with Boeing and Cranfield University for the establishment of sophisticated Maintenance, Repair and Overhaul (MRO) facilities.

“We have signed agreements with Boeing and Cranfield University to establish state-of-the-art MRO facilities, reducing the $200 million annual capital flight for overseas maintenance. Aero Contractors and XEJet are leading this transformation with new hubs in Lagos and Abuja.”

He further cited recent gains in international connectivity, including the resumption of Air Peace’s Lagos–London service, the signing of new Bilateral Air Services Agreements, and the return of Emirates and Uganda Airlines to the Nigerian market.

He added that Aviation now contributes 2.5 per cent to Nigeria’s GDP, supported by 20 airports, 23 domestic airlines, and thousands of skilled professionals.

In terms of compliance and global standards, he said Nigeria now ranks first in Africa for compliance with international aviation standards, which has improved its Cape Town Convention score from 49.5 per cent to 75.5 per cent

He added that it has enabled domestic airlines to access low-cost aircraft financing.

The Minister of Aviation and Aerospace Development, Festus Keyamo, described the event as a bold declaration that Nigeria is ready to lead, innovate, and compete on the global stage.

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He added that the show was a platform for discovery, investment, and collaboration.

Keyamo.said: “The airshow is anchored on the vision of President Tinubu for a modern, safe, secure, globally competitive aviation industry; one that drives economic growth, strengthens national security, supports tourism, and positions Nigeria as Africa’s aviation hub.

“Under the Renewed Hope Agenda, aviation has emerged as one of the fastest-advancing sectors, with transformative milestones that are reshaping Nigeria’s status as a regional powerhouse.

He also said the show was a platform for young Nigerians to see what is possible and be inspired by aerospace engineering, aviation technology, defence systems, drones, and the limitless universe of opportunities within the sector”.