Binani Air Targets $218m In Annual Foreign Exchange Retention
Binani Global Air Services is developing a major aircraft maintenance, repair and overhaul facility in Abuja that is expected to retain about $218 million in foreign exchange annually in Nigeria by reducing airlines’ reliance on overseas maintenance centres.
Binani Global Air Services has engaged a global aviation firm to develop a major maintenance, repair and overhaul facility in Abuja, with the project expected to retain about $218 million in foreign exchange annually within Nigeria.
Chairperson of Binani Air, Sen. Aishatu Dahiru Ahmed, disclosed this while highlighting the significance of the proposed facility to the Nigerian aviation industry.
She said the project aligned with the Federal Government’s efforts to strengthen local aviation capacity and reduce the country’s dependence on foreign maintenance facilities.
Ahmed said Nigerian airlines currently outsource most heavy maintenance checks, including C and D checks, to facilities in Europe, the Middle East and other African countries such as Egypt and Ethiopia.
She said the proposed facility would reduce this dependence while retaining and attracting about $218 million in foreign exchange annually.
The project is coming amid concerns over the high cost of aircraft maintenance and the limited availability of specialised maintenance infrastructure in Nigeria.
Major aircraft checks require specialised equipment, infrastructure and highly skilled personnel, forcing airlines to send aircraft abroad when adequate local facilities are unavailable.
Industry observers said a functional heavy maintenance facility could strengthen Nigeria’s technical capacity, create specialised jobs and support the development of a broader aviation maintenance ecosystem.
The facility could also position Abuja as a potential maintenance hub for Nigerian and other African airlines, depending on its eventual capacity and certification.
Binani Air said the investment represented an expansion of its role beyond domestic passenger operations and into the wider aviation industry.
The project is expected to help keep more Nigerian aircraft at home for major maintenance, reducing foreign exchange outflows associated with overseas maintenance services.
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