Lagos, Nigeria – At a commemorative event marking the 10th anniversary of Nigeria’s leading airline, Air Peace, Minister of Aviation and Aerospace Development, Festus Keyamo, highlighted the aviation sector’s high mortality rate, revealing that over 100 airlines have closed down in the past 40 years.
Speaking at the ceremony held in Lagos on Saturday, Keyamo expressed concern over the alarming trend, attributing it to the challenges faced by Nigerian airlines. However, he assured the audience that the current administration is committed to addressing these issues to prevent further losses in the sector.
“I am excited to be here today for two reasons,” Keyamo stated. “First, because Air Peace has survived for a decade and continues to grow. Historically, Nigerian airlines struggle to last 10 years while remaining viable. We’ve lost more than a hundred airlines since the 1980s, from Concord to Zenith to Bellview, and the list goes on.”
Keyamo noted that this situation is troubling, especially considering Nigeria’s dominance in African domestic travel, with a recent Boeing study revealing that Nigeria accounts for 80% of Africa’s domestic air travel. “The busiest route in Africa is the Lagos-Abuja corridor,” Keyamo explained. “With our large population and high demand, we must ask why so many airlines are failing.”
He commended Air Peace for defying industry trends, remaining resilient over a decade and positioning itself as a promising future carrier. Air Peace Chairman Allen Onyema reflected on the airline’s mission, sharing that its foundation stemmed from a deep-seated desire to create employment for Nigerian youths, with profitability being a secondary objective.
“Air Peace is the result of careful planning and a commitment to positively impact Nigeria,” Onyema said. “While profit is essential, our primary aim has always been to contribute to national development.”
The anniversary celebration comes as Nigeria’s aviation sector confronts numerous challenges, with renewed efforts by the government to tackle airline mortality rates.
