Acting CEO of Ibom Air, George Uriesi, has delivered one of the strongest warnings yet about the future of Nigerian aviation, declaring that the country’s reliance on foreign aircraft maintenance is “financially suicidal” and “a scam that will collapse the industry if not stopped.”
Speaking at the 2025 FAAN National Aviation Conference (FNAC), Uriesi revealed that maintenance budgets often triple once Nigerian airlines send aircraft overseas. A job estimated at $1.5 million commonly ends at $3–4 million per aircraft.
“How do you plan your business around that?” he asked. “It is exploitation, plain and simple.
Uriesi argued that no airline can survive with unpredictable, dollar-heavy maintenance operations abroad. He urged government and industry players to fast-track the development of robust local MRO capability.
Uriesi also spotlighted the punishing cost of aircraft financing in Nigeria. While European operators secure low-interest loans at 3–4% over 15 years, Nigerian airlines face up to 30% interest over seven years.
“We should not rely 100% on foreign maintenance. Even partial domestic maintenance will save airlines from financial free fall,” he said.
“That is why a European airline pays $100 monthly for an aircraft, and we pay $500,” he said. “It is a growth killer.
Beyond financing, insurance premiums for Nigerian airlines remain nearly twice the global average, despite similar risk environments. Taxes and charges are equally heavy: a Lagos–Accra flight attracts up to $185 in levies, with an additional NCAA charge pending.
When ground handling, fuel, landing fees and overflight charges are added, Uriesi said airlines have little room to price tickets profitable.
Despite operating in what Uriesi described as “the toughest aviation environment in the world,” Ibom Air has recorded an 88% compounded revenue growth since 2019.
He commended recent policy reforms but insisted that Nigeria’s aviation ecosystem still imposes unsustainable pressures on airlines.
“We earn in naira but pay for everything in dollars,” he said. “Every weakness in the system lands on the airline.”
According to Uriesi, correcting maintenance inefficiencies and addressing systemic bottlenecks could rapidly turn around the financial stability of Nigerian airlines.
“Fix MRO, fix financing, fix taxes and the industry will change almost overnight,” he concluded.
