News
FG to Set up Aircraft Leasing Company to Support Local Airlines

The Federal Government has disclosed plans to establish an aircraft leasing company in Nigeria, aimed at providing a much-needed boost to local carriers. This strategic initiative is designed to empower Nigerian airlines by serving as an intermediary between them and international lessors, with the government providing a sovereign guarantee to facilitate transactions.

Festus Keyamo, minister of Aviation and Aerospace Development, disclosed this during the ceremonial arrival of Air Peace’s first dry lease aircraft, Boeing 737-700 at the Murtala Muhammed Airport Terminal 2 in Lagos.
According to Keyamo, the proposed aircraft leasing company will enable local airlines to access aircraft without having to navigate the complex global market alone. “We want to put an aircraft leasing company in place, so that Nigerian airlines will not be the ones negotiating with the world,” Keyamo stated.
“We don’t have to walk in silence again. The airlines don’t need to walk around the world looking for aircraft. Government must take care of that responsibility.” With the government’s sovereign guarantee, the project is expected to attract investors from around the world, creating a pool of resources that will support local airlines.
The minister emphasised that the leasing company will form a capital base, with local airlines given priority access to these resources. “This pool will form a capital base. No other person can be the off takers before the local airlines. This will make life easy for the airlines. We’ll be knocking on the doors of aircraft lessors and manufacturers very soon to talk business. We are here to support the local airlines.”
The establishment of the aircraft leasing company is expected to have a significant impact on the Nigerian aviation sector, enabling local carriers to compete more effectively with their international counterparts. With the government’s support, Nigerian airlines will be able to access modern, fuel-efficient aircraft, enhancing their operational efficiency and safety standards.
Keyamo described the arrival of the dry lease aircraft for Nigeria and aviation industry as a whole.
“This is a momentous occasion for Air Peace and the Nigerian aviation industry,” Keyamo stated. “It demonstrates the government’s commitment to supporting local carriers and promoting the growth of the aviation sector.”
Keyamo commended Air Peace for its discipline and financial prudence, which have enabled the airline to achieve this significant milestone. He also emphasised the need for local airlines to acquire more aircraft to compete effectively in the international market. “There is a need for the acquisition of more wide-body aircraft by local operators to compete in the international space,” Keyamo stated.
Allen Onyema, chairman, Air Peace said the journey of securing an aircraft through dry lease started at the minister’s office who saw the importance of having a vibrant aviation sector, and is always willing to partner with the local airlines, leasing companies and the Nigeria Civil Aviation Authority (NCAA) to ensure Nigeria has a chance to take its rightful place in commercial aviation in Africa.
Onyema said Air Peace has been very diligent in ensuring its aircraft are properly maintained, stressing that it would continue to represent Nigeria well at the international space.
“We make sure that our maintenance is top-notch. We are here on behalf of other Nigerian airlines. We are carrying the visions and aspirations of this country and if we fail, it will be a disgrace.
“Given the support we have received from all arms of government and the Nigerian public, I believe we won’t fail our country,” the Air Peace chairman said.
Onyema commended Festus Keyamo for his relentless efforts in supporting local airlines.
“We need wide-bodied aircraft. Like him or hate him, the minister has changed the face of the country’s aviation industry. In the eight years before he came, it was a struggle for Nigerian airlines. When the minister came on board, he noticed a gap and fixed it.
“Before now, the mantra was that Nigerian airlines lack capacity therefore let us invite foreign airlines to take over. He looked at what to do to support Nigerian airlines so that they can compete. The President also gave the marching order to make this happen,” Air Peace chairman said.
Onyeme said most big airlines don’t own some of the aircraft they use as most go to Boeing and Airbus to make orders and the lessors grant them.
“That is why you see one airline having about 400 planes. In Nigeria, every airline owner is expected to buy their own aircraft. When we brought up the issue of aircraft dry-leasing with the minister, he did the necessary things. Today, we have a dry-leased aircraft,” he said.
Moore Ibekwe, Junior sales director, Africa Region Boeing Commercial Airplanes said three years ago when he took up the job as a sales director for West Africa, East Africa, Southern Africa, and Morocco, only himself and one of his senior finance directors believed that this day could happen.
“However, I want to everyone because we continue to push. They were open to tell us what it would take for us to get here, how we can get aircraft into Nigeria, and I see this as the beginning. Yes, it’s one aircraft, but I can tell you this is the opening point for a better aviation sector,” Ibekwe said.
He said Nigeria needs to take its rightful place in aviation with Air Peace setting the pace.
“Air Peace plays a pivotal role in the Nigerian economy.This is about the region. This is about Africa. This is about us creating opportunities for the future.
“Air Peace hires or employs thousands of people, and their families depend on the airline for their livelihood. And it’s important that we have to support the industry here,” Ibekwe added.
Present at the event was Chris Najomo, Director General of the Nigeria Civil Aviation Authority; Bunmi Kuku, Managing Director Federal Airport Authority of Nigeria, Peter Ryan,
Irish Ambassador to Nigeria, and Kevin Ugwuoke, Financial partners- Executive Director Risk Management at Fidelity bank, who also represented by
Kenneth Opara, the Executive Director of the bank, among others.
News
UK, Nigeria Launch £15 million Growth Programme to Accelerate Economic Transformation

The UK Minister for Africa and International Development, Baroness Jenny Chapman, has concluded a two-day visit to Nigeria, during which she announced a new £15 million Growth Programme, deepened cooperation on digital transformation and health, and visited communities benefiting directly from UK investment on the ground.

The visit, spanning Abuja and Kaduna, underscored the breadth and depth of the UK–Nigeria Strategic Partnership and marked a significant step towards both countries’ shared priorities.
The UK–Nigeria Growth Programme
The centrepiece was the meeting with Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele. During their meeting, they discussed the new UK–Nigeria Growth Programme. Over three years, it will accelerate economic transformation, unlock private investment and support Nigeria’s transition from macroeconomic stabilisation to sustained, reform-led growth.
Alongside the Growth Programme, the UK announced deeper collaboration on Nigeria’s digital economy through the SPRIRET initiative, delivered under the UK’s Digital Access Programme. SPRIRET will support digital governance reforms across five Nigerian states, reducing regulatory barriers and enabling greater investment and innovation in broadband, digital services and emerging technology.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele said: “We continue to value the UK–Nigeria relationship, one of the most important partnerships for both our countries. Today, that relationship extends beyond traditional ties and now focuses on development, growth, and shared prosperity.
“The UK–Nigeria Growth Programme helps bring this partnership to life—supporting capital market development, technology investment, small businesses, and technical assistance. We look forward to seeing how these opportunities deliver lasting benefits and drive progress for both countries.”
Trade and bilateral ministerial meeting
During the visit, Baroness Chapman met with the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole. Discussions covered progress under the Enhanced Trade and Investment Partnership (ETIP), including boosting exports via the Developing Countries Trading Scheme, fintech and capital markets links.
Kaduna: building on two decades of partnership
In Kaduna, Baroness Chapman met with Governor Uba Sani to take stock of over 20 years of UK–Kaduna partnership and explore how cooperation can deepen shared priorities. She heard from the business community and key institutional investors about their investment aspirations and the role of the UK in supporting investment mobilisation and enabling climate finance.
She met with community animal health workers and livestock breeders to discuss the UK’s support on breeding techniques, animal health and livestock vaccines. She also visited Unguwan Sanusi Primary Health Care Centre, which serves approximately 20,000 people in Kaduna South, hearing directly from patients and frontline health workers about the impact of UK-supported health programmes.
At the end of the visit, the UK Minister for Africa and International Development, Baroness Jenny Chapman, said: “This visit has reinforced everything I believe about the UK–Nigeria partnership.
“That it is deep, it is real, and it is moving in the right direction. From launching our new Growth Programme with Honourable Minister Oyedele, to meeting from frontline health workers in Kaduna — every conversation this week has shown me a country full of ambition and a partnership that is genuinely delivering for both sides.
“Nigeria is a partner that the UK is proud to stand alongside and I leave more convinced than ever that the next chapter of this partnership is its most exciting yet. The UK is here for the long term, and we are ready to grow together.”
News
Mobile Internet Gender Gap Widest in Africa – GSMA

More than 810 million women across low- and middle-income countries (LMICs) remain offline, with Sub-Saharan Africa recording one of the world’s widest mobile internet gender gaps.

According to the GSM Association’s (GSMA’s) Mobile Gender Gap Report 2026, released this week, women in LMICs are still 12% less likely to use mobile internet than men, leaving an estimated 200 million fewer women connected than their male counterparts.
This is despite mobile internet becoming the primary gateway to the digital economy, according to new research from the GSMA.
The report reveals that of the 810 million women who remain offline globally, more than two-thirds live in Sub-Saharan Africa and South Asia −regions that continue to experience the widest disparities in digital access.
The findings highlight significant implications for Africa, and the challenges facing governments, mobile operators and development agencies seeking to expand digital inclusion.
The report notes that Sub-Saharan Africa’s mobile internet gender gap stands at 26%, second only to South Asia’s 25%. The divide becomes even more pronounced outside major cities.
“In LMICs, the gender gap in mobile internet adoption tends to be two to three times wider in rural areas than urban areas. In 2025, across all LMICs, the gender gap in mobile internet adoption was more than three times wider in rural areas than in urban areas.
“There is also a difference at the regional level, where the gender gap in mobile internet adoption is wider in rural than urban areas of LMICs in every region except Europe and Central Asia.”
For Africa, the rural challenge is particularly severe, the report warns.
The GSMA found that the gender gap in mobile internet adoption reaches 34% in rural areas of Sub-Saharan Africa, compared to 21% in urban centres.
Device challenge
Smartphone ownership remains a major obstacle to digital inclusion. The report found that women across LMICs are 13% less likely to own a smartphone than men, representing approximately 210 million fewer women with access to internet-enabled devices.
Across Sub-Saharan Africa, only 34% of women own smartphones, with the region recording a smartphone ownership gender gap of 22%, with access to internet-enabled devices remaining one of the most important factors influencing whether women eventually adopt mobile internet services.
“The type of mobile device a person owns matters, as it typically affects whether and how they use the internet. Once someone owns a smartphone, they are much more likely to be aware of mobile internet, adopt it and use it regularly and in a variety of ways. In fact, once women own a smartphone, these metrics more closely resemble those of men,” notes the report.
Barriers persist
Despite growing awareness of mobile internet and its benefits, women continue to face multiple barriers to meaningful participation in the digital economy.
The report identifies affordability, literacy and digital skills as the leading barriers preventing women from getting online.
Even after gaining access, women frequently report safety and security concerns, data costs and connectivity quality as obstacles to broader internet use.
The report notes: “Addressing rural gender gaps is essential to advancing digital inclusion for women overall. In particular, women who live in rural areas tend to have limited physical access to essential services and may have the most to gain from better access to mobile and mobile internet.
“Addressing gender gaps in mobile ownership, particularly of smartphones, and in mobile internet use can help women in rural areas benefit from these digital technologies to the same extent as men.”
Claire Sibthorpe, head of digital inclusion at the GSMA, warns that progress is not happening quickly enough and emerging technologies such as artificial intelligence risk creating new forms of digital exclusion.
“While there has been a slow narrowing of the mobile gender gap since 2022, much more is needed to address the persistent and significant gender gaps in mobile internet adoption and use.
“We live in an increasingly digital world and the proliferation of technologies such as AI are creating greater digital divides and inequities, elevating the need to ensure digital inclusion for all.”
News
Payaza Secures ‘A’ Credit Ratings from Moody’s, Agusto, DataPro, Intelligence Africa

Payaza Africa, a payments infrastructure company, has earned strong credit ratings from four major rating agencies, reinforcing its growing reputation as a resilient and credible player in Africa’s financial services ecosystem.

The payment company recorded upgrades across the board, with DataPro raising its rating from A to AA-, Intelligence Africa assigning it an A- investment-grade rating, Agusto upgrading it from BBB to A-, and GCR, an affiliate of Moody’s, also moving it from BBB to A-.
A credit rating reflects a company’s financial strength and its ability to meet debt obligations, indicating how safe it is for lenders and investors to extend credit.
In a statement on Monday, the company described the achievement as a validation of its disciplined growth trajectory and operational resilience in a dynamic fintech landscape. It added that the upgrades position Payaza as a future-ready brand with increasing relevance not only within Africa but also in the global fintech space.
Commenting on the development, Seyi Ebenezer, the Chief Executive Officer of Payaza Africa, said the ratings reflect years of deliberate effort to build a sustainable and globally competitive institution.
“This milestone is a strong affirmation of the work we have done to build Payaza on a foundation of discipline, trust, and long-term value creation. Receiving these upgraded ratings sends a clear message that Payaza is not only growing, but growing with strength, structure, and sustainability,” he said.
Ebenezer noted that the recognition goes beyond financial performance, highlighting the company’s ability to execute strategically while maintaining strong risk management practices.
“For us, this is bigger than recognition. It reflects our commitment to building a world-class institution that can compete globally while continuing to serve businesses and consumers across the continent with excellence.
“Over time, our ratings journey has reflected more than strong financial performance. It speaks to a business built on disciplined execution, prudent management, and the ability to scale responsibly in a dynamic market. This has helped us stand out not only as an innovator in digital payments, but as a maturing financial institution with the operational depth to compete globally.
“These new ratings are expected to further strengthen Payaza’s standing with investors, regulators, partners, enterprise clients, and the wider financial community. In a sector where trust, resilience, and compliance are increasingly central to long-term success, independent ratings remain a powerful endorsement of a company’s ability to manage risk, meet obligations, and sustain growth,” Ebenezer said.
Payaza Africa provides payment infrastructure solutions focused on collections, payouts, embedded finance, and digital commerce enablement for businesses across Africa.
The company has also continued to expand its product ecosystem with solutions such as Payaza Checkout for payment collections and payouts, Chat and Pay by Payaza for WhatsApp-based transactions, Payaza Give for donations and digital contributions, and Shopaza, its e-commerce platform designed to help businesses sell and receive payments more efficiently.
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