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Nigeria is witnessing a notable resurgence following the tumultuous aftermath of the COVID-19 pandemic. Although airlines have yet to reclaim their pre-pandemic stature, there's an encouraging upswing evident in their efforts. Notably, expansions in flight networks extend even to remote airfields across the nation. In 2021, a substantial surge was observed in air travel, with a remarkable 45.32% rise in total passengers compared to the preceding year. This surge catapulted the total number of passengers traversing both domestic and international terminals to an impressive 15.23 million. Noteworthy aircraft in operation include a range of Boeing series planes such as the 737s-700 and 800 series, 777s-300 series, alongside civilian and military Bell helicopters, painting a diverse picture of Nigeria's aviation landscape.
Sector Specific Incentives
VAT Exemption: Commercial aircraft and tickets, VAT-free
Industry Tailored Benefits
Duty-Free Aircraft Import: Exemption for Nigerian-registered airlines.
Legislative Framework and Investment Avenues
Navigating this dynamic sector, investors can find solid ground in legislative frameworks such as the Civil Aviation Act 2022 and the Nigerian Civil Aviation Regulation 2015. These frameworks not only provide guidance but also pave the way for strategic investment avenues, facilitating growth and innovation in Nigeria's aviation sector.
Regulatory Authorities
Nigerian Civil Aviation Authority (NCAA)
International Civil Aviation Organization (ICAO)
International Air Transport Association (IATA)
Federal Ministry of Aviation
Nigerian Airspace Management Authority (NAMA)
