Business A.M
No Result
View All Result
Saturday, March 7, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Business Traveller/Hospitality

Air Peace bets N32bn on MRO facility to curb capital flight

by Onome Amuge
September 18, 2025
in Business Traveller/Hospitality, The business traveller & hospitality
Air Peace disrupts international flight market with N1m Abuja–London fare 

Onome Amuge

Air Peace, Nigeria’s largest airline, has broken ground on a N32 billion aircraft maintenance, repair and overhaul (MRO) facility at Lagos’s Murtala Muhammed International Airport, in a move aimed at reducing the sector’s reliance on costly offshore services and boosting the country’s aviation infrastructure.

The project, backed by technical expertise from Brazilian aerospace group Embraer, is expected to generate about 50,000 jobs once completed and provide capacity for both domestic and international carriers seeking maintenance services in West Africa.

Allen Onyema, Air Peace’s chairman and chief executive, told attendees at the groundbreaking ceremony that Nigerian airlines collectively spent hundreds of billions of naira annually servicing aircraft overseas, a drain on scarce foreign exchange reserves. Air Peace alone spent more than N180 billion on offshore maintenance in 2024, according to Onyema.

“The establishment of this facility will substantially reduce our dependence on foreign MRO centres, conserve foreign exchange, and create a magnet for international investment into Nigeria’s aviation industry. It is not just a win for Air Peace, but a win for the Nigerian economy,” he said. 

The airline’s push reflects long-running frustrations among carriers across Africa, which often face high costs and long downtimes flying aircraft to Europe, the Middle East or Asia for heavy maintenance checks. Nigeria, despite being the continent’s most populous nation and home to one of its largest domestic air travel markets, has for long, lacked a world-class MRO facility.

Aviation minister Festus Keyamo described the project as a national treasure, urging broad support to ensure its success. “Today is not just about Air Peace. This facility will serve the entire nation, saving our airlines and our economy billions each year. Supporting local airlines is not optional, it is essential,” he said. 

The initiative has also drawn backing from Nigeria’s Bank of Industry, whose executive director for large enterprises, Ifeoma Uz’Okpala, called the project a perfect fit with the bank’s development mandate. She argued that localised MRO services would improve airline efficiency and profitability, while creating wider economic spillovers.

Nigeria’s aviation industry has been squeezed by rising operating costs, currency volatility, and difficulties in repatriating revenues by foreign airlines. According to analysts, creating domestic maintenance capacity could relieve one of the industry’s most persistent cost pressures while positioning Nigeria as a regional hub.

Air Peace, founded in 2013, has grown rapidly to dominate Nigeria’s domestic market and expand into regional and international routes. The company has positioned the MRO facility as a cornerstone of its long-term growth strategy and as evidence of its commitment to developing Nigeria’s aviation ecosystem.

Onome Amuge

Onome Amuge serves as online editor of Business A.M, bringing over a decade of journalism experience as a content writer and business news reporter specialising in analytical and engaging reporting. You can reach him via Facebook and X

Previous Post

Elumelu leads corporate mourning after UBA staff die in Afriland Towers fire

Next Post

AI holds potential to boost global trade 40% by 2040 – WTO

Next Post
WTO Sees Africa gaining from global supply chain disruptions

AI holds potential to boost global trade 40% by 2040 – WTO

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

How UNESCO got it wrong in Africa

May 30, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Global food prices higher in July on stronger meat, vegetable oil costs

Global food prices rise for first time in five months on cereal, oil gains

March 6, 2026
inDrive retains top download ranking amid expansion into African mobility markets

inDrive rolls out Ramadan Shukran driver appreciation campaign in Abuja

March 6, 2026
Gold hits fresh record above $3,640 as Fed rate cut bets intensify

Gold extends rally to $5,222 as weaker dollar, Asian demand lift prices

March 5, 2026
All federal airports fully insured , says Kuku

FAAN to adopt hybrid payment system at Airport toll gates after Tinubu suspends cashless rollout

March 5, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • Elumelu leads corporate mourning after UBA staff die in Afriland Towers fire

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Global food prices higher in July on stronger meat, vegetable oil costs

Global food prices rise for first time in five months on cereal, oil gains

March 6, 2026
inDrive retains top download ranking amid expansion into African mobility markets

inDrive rolls out Ramadan Shukran driver appreciation campaign in Abuja

March 6, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M