The Director-General of the Nigeria Civil Aviation Authority, Chris Najomo, has projected that airfares in Nigeria could decline within the next six months as local airlines expand their fleets with newly acquired aircraft.

Speaking at the Nigeria Aircraft Acquisition and Investment Summit (NAAIS) 2026 in Lagos, Najomo revealed that multiple Nigerian carriers are set to receive modern, state-of-the-art aircraft, significantly increasing operational capacity across the aviation sector.

He explained that improved agreements between the Federal Government and international aircraft lessors—particularly around the protection of leased assets—have restored confidence in Nigeria’s aviation market. This, he said, is already attracting more aircraft into the country.

According to him, the industry is witnessing a transition to newer fleets, including aircraft from manufacturers such as Embraer, Boeing, and Bombardier. He noted that both commercial airlines and private jet operators are benefiting from this influx.

Najomo added that the increase in aircraft availability will not only reduce ticket prices but also enable airlines to explore previously underserved routes, including destinations along the West African coast.

He emphasized that the situation is already improving, with airfare reductions beginning to take shape due to increased capacity, a shift from previous years when limited aircraft availability drove prices up.

In a related development, Fidelity Bank has entered into a strategic partnership with Aircraft Finance Germany (AFG) to simplify aircraft leasing and acquisition for Nigerian airlines.

The agreement, signed at the summit, is expected to ease financial barriers for operators by promoting leasing options instead of outright aircraft purchases, which traditionally require substantial upfront capital.

Fidelity Bank’s Executive Director, Stanley Amuchie, stated that the collaboration combines local financial strength with international technical expertise, enabling airlines to scale operations more efficiently through structured leasing arrangements.

He noted that the initiative will support both existing and new entrants into the aviation sector, providing a more sustainable pathway for growth while enhancing overall industry capacity.

With more airlines expected to begin the Air Operator Certificate (AOC) process and additional aircraft scheduled to arrive, stakeholders anticipate a more competitive aviation market in Nigeria in the coming months.